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 …

/early-1980s and in the early-1990s, 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 – Chile … sustainability indicators and discusses their usefulness in predicting external crises. …

We assess the sustainability of the current account (CA) balance, net international investment position (NIIP) and net … sustainability of the CA balance mainly in a few surplus countries whereas there is more concern about the sustainability of the NIIP …

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 …

Debt sustainability is fundamentally a probabilistic concept: Debt is rarely sustainable with probability one. We … propose an index of external debt sustainability that reflects this uncertainty. Namely we construct the index as the … strong measures are potentially needed to reestablish sustainability. Exchange rates that appear overvalued in the baseline …

. -- Current account imbalances ; euro area ; foreign debt ; sustainability ; general equilibrium model …In this paper we study the intra-euro area imbalances based on a dynamic general equilibrium model. We show that … European financial integration and the introduction of the euro might have contributed to the development of imbalances …

imbalances in an environment that is non-deterministic and characterized by uncertainty. The sustainability criteria are related … during two periods, 1947:i-1973:iv and 1974:i-1994:ii. The paper develops the concept of sustainability of external … and factors that affect sustainability are discussed …

in the traditional approach to evaluate debt sustainability, and examine three alternative approaches that provide useful … econometric and model-simulation tools to analyze debt sustainability. The first approach is Bohn's nonstructural empirical … these three approaches to analyze debt sustainability in the United States and Europe after the sharp increases in public …

Both theoretical and operational definitions of current account sustainability show a persistent and fragile current … evident from the analysis that current account sustainability in Ghana is very sensitive to donor flow dynamics rather than … if managed can contribute to current account sustainability. …

This paper examines current account sustainability of eight countries in the Economic Community of Western African …