We run simulations of current account rebalancing scenarios in the Euro Area and the European Union based on a closed … constraint. Then, a coordinated asymmetric expansion in the Euro Area could alleviate the unemployment crisis in the European … Expansion im Euro-Raum die Krise im europäischen Süden wesentlich lindern. …

two deficits is asymmetric and the negative impact of the recent Eurozone banking and sovereign debt crisis on the current … positive impact of the budget balance on the current account balance is higher in the cases of non-Eurozone countries, high … budget deficit countries, and low exports countries, whereas it is lower in the cases of Eurozone countries, low budget …

increase to reach the European standard would be larger in euro area countries with excessive external surpluses, the …

that the relationship is bi-directional for the EU panelas a whole. Furthermore, we find that in Eurozone countries, before … is greater. Conversely, in non-Eurozone countries, after 2010, in countries with a current account balance-to-GDP ratio …

of history confirm the stability of the euro as a single currency in the region and it is seen as a great achievement of …