In der Juliausgabe veröffentlichte der Wirtschaftsdienst einen Aufsatz von Georg Erber mit dem Titel „Irrungen und Wirrungen mit der Leistungsbilanzstatistik“. Dazu äußert sich Jan Priewe kritisch. Anschließend stellt Georg Erber in einer Erwiderung seine Sicht dar.

This paper first reviews the developments in the size and composition of the European banking sectors' balance sheets since the Global Financial Crisis, and then assesses the impact of foreign currency loan conversion programs on systemic risk. Aggregate data from 2009Q1 to 2019Q3 indicate three...

This paper discusses the experience of the EU`s eight new member countries (EU8) between 1995 and 2003 when the bulk of capital account liberalization took place, focusing on interest-rate-sensitive portfolio flows and financial flows. It takes stock of the lessons from capital flow patterns to...

Over recent years, several euro area countries have registered large and persistent net foreign liabilities. This paper examines the risks arising from these external stock imbalances, the prospects for their smooth unwinding and the menu of policy options. The paper demonstrates that external...

Many studies have explored the determinants of current account balances in Europe. However, only in a few studies have trade imbalances been decomposed into intra balances, trade balances vis-à-vis the euro area, and extra balances, trade balances vis-à-vis the rest of the world. In this...

This paper describes the dynamics of the external positions of euro area countries since the formation of EMU. While external imbalances have been the main focus in recent times, current account balances can only be properly interpreted in the context of understanding the overall international...

Over recent years, several euro area countries have registered large and persistent net foreign liabilities. This paper examines the risks arising from these external stock imbalances, the prospects for their smooth unwinding and the menu of policy options. The paper demonstrates that external...

Typically, the catching-up process between rich Northern Europe and poor Southern Europe and the diverging cost competitiveness between the two regions are considered alternative explanations for the widening current account imbalances in the euro area. This paper proposes a new explanation for...

Some ten years ago, Michael Dooley (Dooley, 1997; Dooley, 2000) put forward an insurance model of currency crises, which after some modifications gives a good theoretical basis for explanation of the overall dynamics of the post communist transformation and diversity across countries and periods....

Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...