Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

Progress Towards External Adjustment in the Euro Area Periphery and the Baltics
The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances. Thus far, tangible progress has been made through lower wages and/or higher productivity relative to trading partners (“internal... READ MORE...

Publication date: July 2014
ISBN 9781498364713
$18.00

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