The paper discusses global current account imbalances in the context of an asymmetric world monetary system and … against the euro or members of the euro area (euro periphery). The paper finds that changes of world current account positions …

compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and …). The paper finds that the changes of the world current account positions are driven by the macroeconomic pol-icy decisions … contribute to rising saving surpluses. -- Global Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus …

The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account …

This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …

This study divides the world into currency zones according to the co-movement of each currency with the key currencies … dollar zone. In such a world, the rise of another large economy poses the question not of relative size but rather of re …-alignment of third currencies. What if the renminbi becomes a key currency alongside the dollar and the euro? Already some emerging …