The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment … mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union … payments, but only one for the whole Eurozone. This paper will show why the Target System is a crucial indicator for the …

-- Betrachtung der Branchenebene -- Implikationen für optimale Währungsräume und die Eurozone. … Volkswirtschaften in der Eurozone. Er leitet den Zusammenhang zwischen den beiden Größen theoretisch her und bestätigt die Argumentation … Betrachtung der Branchenebene Implikationen für optimale Währungsräume und die Eurozone Die Zielgruppen Dozierende und Studierende …

The recent "eurozone crisis" called attention to the substantial current account imbalances within the euro area which … unsustainable movements in the current account. The pre-crisis eurozone was characterized by large and persistent current account … managing the domestic level of wages and prices. In the pre-crisis eurozone, due to diverging configurations of domestic …

The paper provides an account of the meaning and implications of TARGET2 in the eurozone (EZ) balance of payments …