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Current account targeting hypothesis versus twin deficit hypothesis : the EMU experience of Portugal
Afonso, António; Coelho, José Carlos - 2021
We study the relationship between the government budget balance and the current account balance for Portugal, using quarterly data from 1999 to 2019. On the one hand, the causality tests find a unidirectional relation running from the current account balance to the government budget balance. On...
Persistent link: https://www.econbiz.de/10012595472
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Are the current account imbalances between EMU countries sustainable?
Schoder, Christian; Proaño Acosta, Christian; Semmler, … - 2012
current account imbalances in the euro area and test whether the European Monetary Union has aggravated these imbalances. Two … empirical evidence suggesting that the introduction of the euro is associated with a regime shift from sustainability to … unsustainability of external debt accumulation for the euro area. …
Persistent link: https://www.econbiz.de/10009616530
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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It … periphery countries, but surely they will drive Euro Area as a whole to stagnation and lost decades of economic growth, if not …
Persistent link: https://www.econbiz.de/10011515832
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The corporate saving glut and the current account in Germany
Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2021
We investigate, in the case of Germany, the positive correlation between the cyclical components of the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. Employing sign restrictions, our findings suggest that mostly...
Persistent link: https://www.econbiz.de/10012607560
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The Corporate Saving Glut and the Current Account in Germany
Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2021
We investigate, in the case of Germany, the positive correlation between the cyclical components of the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. Employing sign restrictions, our findings suggest that mostly...
Persistent link: https://www.econbiz.de/10013210659
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Oil price shocks, monetary policy and current account imbalances within a currency union
Baas, Timo; Belke, Ansgar - 2019
For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as they threaten the stability of the world economy. More recently, the government debt crisis of the European Union shows that internal current account imbalances inside a currency...
Persistent link: https://www.econbiz.de/10012063640
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The corporate saving glut and the current account in Germany
Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2019
We investigate for the case of Germany the positive correlation between the corporate saving glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand...
Persistent link: https://www.econbiz.de/10011999017
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The corporate saving glut and the current account in Germany
Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2019
We investigate for Germany the positive correlation between the corporate savings glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand and...
Persistent link: https://www.econbiz.de/10012265888
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The corporate saving glut and the current account in Germany
Klug, Thorsten; Mayer, Eric; Schuler, Tobias - 2018
We investigate for Germany the positive correlation between the corporate savings glut in the non-financial corporate sector and the current account surplus from a capital account perspective. By employing sign restrictions our findings suggest that mostly labor market, world demand and...
Persistent link: https://www.econbiz.de/10011962358
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Oil price shocks, monetary policy and current account imbalances within a currency union
Baas, Timo; Belke, Ansgar - 2017
For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as they threaten the stability of the world economy. More recently, the government debt crisis of the European Union shows that internal current account imbalances inside a currency...
Persistent link: https://www.econbiz.de/10012129945