We run simulations of current account rebalancing scenarios in the Euro Area and the European Union based on a closed … constraint. Then, a coordinated asymmetric expansion in the Euro Area could alleviate the unemployment crisis in the European … Expansion im Euro-Raum die Krise im europäischen Süden wesentlich lindern. …

The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries … of claims of domestic banks on debtors in other euro-area countries, and an increase is expected to lead to higher …

Low international competitiveness of a set of euro area countries, which have become evident by large current account … analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro … intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers …

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …

The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries …

recent euro periphery crisis. Trade costs can limit the pass-through of internal devaluation on export prices. Using data on … relative to domestic prices in the euro periphery. Furthermore, VAT (in theory trade neutral, but in practice much higher on … the euro periphery fiscal devaluation programs, and show that it can account for the most salient features of the data …