Current Accounts in a Currency Union

Current Accounts in a Currency Union
A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences across euro-area countries are smaller and have not risen relative to those across 13 other advanced economies with more flexible exchange rates.... READ MORE...

Publication date: June 2009
ISBN 9781451872743
$18.00

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