Schnabl, Gunther; Freitag, Stephan - 2009
The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … euro area (Germany) as center countries with rising current account deficits (US) and surpluses (Germany) which are matched … periphery) and rising current account deficits of the countries stabilizing their exchange rate against the euro (euro periphery …