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 …

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

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

In this paper we study the intra-euro area imbalances based on a ynamic general equilibrium model. We show that … European financial integration and the introduction of the euro might have contributed to the development of imbalances …. Interest rate convergence following EMU accession led to net foreign debt positions, which prove difficult to reverse …

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 …

/early eighties and in the early nineties, raising the issue of whether these persistent imbalances are sustainable. This paper puts … forward a notion of current account sustainability and compares the experience of three Latin American countries … sustainability indicators and discusses their usefulness in predicting external crises …