changes and credit facilities as adjustment mechanisms for current account imbalances. Panel regressions reveal a robust … fiscal policy stances for current account imbalances in Europe since the early 1970s under alternative institutional monetary … impact of fiscal policy divergence on current account imbalances, which to a large extent is independent from the exchange …

After the 2003-2007 economic boom, European countries with large pre-crisis current account imbalances are undergoing … adjustments. Countries are adjusting at different paces and ways reflecting the source and magnitude of imbalances, availability … large pre-crisis imbalances and a fixed exchange rate regime have seen sharp current account adjustments and a rebound in …