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Macroeconomic policy making, exchange rate adjustment and current account imbalances in emerging markets

Duarte, Pablo; Schnabl, Gunther - In: Review of development economics 19 (2015) 3, pp. 531-544

Persistent link: https://www.econbiz.de/10011396782

Macroeconomic policy making, exchange rate adjustment and current account imbalances in emerging markets

Duarte, Pablo; Schnabl, Gunther - 2014

Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...

Persistent link: https://www.econbiz.de/10010431297

Macroeconomic policy making and current account imbalances in the euro area

Murai, Taiki; Schnabl, Gunther - In: Credit and capital markets : Kredit und Kapital 54 (2021) 3, pp. 347-373

Persistent link: https://www.econbiz.de/10012803290

Macroeconomic policy making and current account imbalances in the euro area

Murai, Taiki; Schnabl, Gunther - 2021

The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...

Persistent link: https://www.econbiz.de/10012550195

Fiscal divergence, current account and TARGET2 imbalances in the EMU

Abad, José M.; Löffler, Axel; Schnabl, Gunther; … - 2012

surplus liquidity absorption within an asymmetric EMU. It is argued that starting from the turn of the millennium diverging … brought Deutsche Bundesbank into a debtor position to the domestic financial system, we discuss options for liquidity …

Persistent link: https://www.econbiz.de/10009506528

Fiscal divergence and current account imbalances in Europe

Schnabl, Gunther; Wollmershäuser, Timo - 2013

Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...

Persistent link: https://www.econbiz.de/10009702880

Fiscal divergence, current account divergence and TARGET2 imbalances in the EMU

Abad, José M.; Löffler, Axel; Schnabl, Gunther; … - In: Intereconomics : review of European economic policy 48 (2013) 1, pp. 51-58

discusses options for liquidity absorption by the Bundesbank to forestall asset price bubbles in Germany. …

Persistent link: https://www.econbiz.de/10009704974

Fiscal Divergence, Current Account and TARGET2 Imbalances in the EMU

Abad, Jose - 2012

surplus liquidity absorption within an asymmetric EMU. It is argued that starting from the turn of the millennium diverging … Bundesbank into a debtor position to the domestic financial system, we discuss options for liquidity absorption by Deutsche … reduction of TARGET2 imbalances and therefore surplus liquidity in Germany …

Persistent link: https://www.econbiz.de/10013108357

Current account surpluses and conflicted virtue in East Asia : China and Japan under the dollar standard

McKinnon, Ronald I.; Schnabl, Gunther - In: Towards monetary and financial integration in East Asia, (pp. 159-191). 2009

Persistent link: https://www.econbiz.de/10003850537

Monetary integration, fiscal divergence and current account imbalances in Europe

Schnabl, Gunther - In: The Economists' voice 15 (2018) 1, pp. 1-16

Persistent link: https://www.econbiz.de/10011964895