changes and credit facilities as adjustment mechanisms for current account imbalances. Panel regressions reveal a robust … fiscal policy stances for current account imbalances in Europe since the early 1970s under alternative institutional monetary … impact of fiscal policy divergence on current account imbalances, which to a large extent is independent from the exchange …

-specific c interest rate, employed in a panel estimation, exhibits a significantly strong impact on current account imbalances …This paper provides an alternative approach in explaining current account imbalances within the euro area. The …

for solvent institutions while keeping the overall pressure on for a rapid correction of the imbalances …