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 …

due to the existence of intangible corporate capital invested overseas. In their view the debate about the sustainability …

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

imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness … within pairs of countries or in the overall trade competitiveness of individual countries. Intra-euro area imbalances also …

over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area … tends to be more balanced when nominal exchange rates are flexible. Intra-euro area imbalances also seem to have become more … imbalances, we find that bilateral trade surpluses are decreasing in the real exchange rate, decreasing in growth differentials …

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 …

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