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Is the Eurozone not a monetary union, but an extraordinary exchange rate union?

Sauer, Beate; Sell, Friedrich L. - 2013

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 …

Persistent link: https://www.econbiz.de/10009751600

On the persistence of trade imbalances : evidence from Europe

Berger, Helge; Nitsch, Volker - In: Global interdependence, decoupling and recoupling, (pp. 213-232). 2014

Persistent link: https://www.econbiz.de/10010227038

Macroeconomic adjustment : the Baltic states versus euro area crisis countries

Lindner, Axel - In: Intereconomics : review of European economic policy 46 (2011) 6, pp. 340-345

Persistent link: https://www.econbiz.de/10009384226

On the persistence of trade imbalances : evidence from Europe

Berger, Helge; Nitsch, Volker - 2013

Does exchange rate variability affect the speed of external adjustment? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably,...

Persistent link: https://www.econbiz.de/10009742472

Current account imbalances and structural adjustment in the euro area: how to rebalance competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10003936156