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The European north-south divide has been an issue of a long-standing debate. We employ a Global VAR model for 28 developed and developing countries to examine the interaction between the global trade imbalances and their impact within the euro-area framework. The aim is to assess the propagation...
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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 …
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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 …
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