In this paper, we first present the state and the development of the European capital and current account imbalances …

-European current account imbalances, which were underpinned by low interest rates. Since the outbreak of the crisis, the adjustment of … intra-EMU current account imbalances has been postponed by a rising divergence of TARGET2 balances, as the repatriation of …

The paper scrutinizes the reasons for the European debt crisis, the implications for TARGET2 imbalances and options for … fiscal policy paths and diverging unit labor costs were the driving force of rising intra-European current account imbalances … imbalances is postponed by a rising divergence of TARGET2 balances, as the repatriation of private international credit and …

For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as … that internal current account imbalances inside a currency union may also add to these risks. Oil price fluctuations and a … the currency union by changing internal imbalances. Therefore, in this paper, we analyze the impact of oil price shocks on …

For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as … that internal current account imbalances inside a currency union may also add to these risks. Oil price fluctuations and a … the currency union by changing internal imbalances. Therefore, in this paper, we analyze the impact of oil price shocks on …