Using parametric and non-parametric estimation techniques, we analyze the sustainability of the recently growing … current account imbalances in the euro area and test whether the European Monetary Union has aggravated these imbalances. Two … alternative criteria for the as-sessment of external debt sustainability are considered: One based on the Transversality Condition …

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

Ireland, as it highlights the overall importance of growth dynamics in determining the sustainability of post-default or post …

, also discussing work that investigates the accumulation of imbalances preceding the crisis and the scope for preventive …

After the recent crisis, a reduction was observed in global current account (flow imbalances). Still, global … disequilibria as measured in terms of countries' net foreign assets (stock imbalances), kept increasing. This paper studies whether … stock imbalances have a stabilizing or destabilizing impact on countries' accumulation of external wealth and why. Our …

sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel …