The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … dollar periphery are found to have contributed to global current account imbalances. Given that the sample period for the …

account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public … unsustainable intra-E(M)U indebtedness. We analyse the emergence of intra-European imbalances since the year 1990 based on the … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …

This paper contributes to the discussion on the European current account imbalances by analysing the intra … not only the 1992-93 EMS crisis but also rising intra-European current account imbalances since 1999 that led to the …