External Imbalances in the Euro Area

WP/12/236

Nopic
The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of declines in export competitiveness and asymmetric trade... READ MORE...

Publication date: September 2012
ISBN 9781475524673
$18.00

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Publication date: September 2012

English