Schnabl, Gunther; Freitag, Stephan - 2010
The paper discusses global imbalances under the aspect of an asymmetric world monetary system. It identifies the US and … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account … Imbalances ; Asymmetric World Monetary System ; Twin Deficit ; Twin Surplus ; International Currency ; Sterilization ; Granger …