"Why did the Eurozone end up with an unemployment rate more than twice than that of the United States and six years after the collapse of Lehman Brothers? Was crisis in the Eurozone inevitable? What caused the prolonged economic failure experienced by the majority of the world's low- and...

Die Turbulenzen um Banken, Staatsschulden und den Euro verwirren Politiker, Journalisten und Bürger es hat den Anschein, als sei Hysterie ein Rohstoff der Kasinoökonomie. Dabei sind viele Mythen in Umlauf: Wird Deutschland zum Zahlmeister Europas? Leben wir wirklich über unsere Verhältnisse?...

The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...