Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments

Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable to tradable sectors, while improved export... READ MORE...

Publication date: July 2014
ISBN 9781498334426
$18.00

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