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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 e...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington D.C.] :
International Monetary Fund,
2009.
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| Colección: | IMF working paper ;
WP/09/127. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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. Also, the size of country-specific current account shocks in EMU countries is smaller and their persistence is greater than in the other advanced economies. However, these differences in current account dynamics do not appear related to different exchange. |
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| Descripción Física: | 1 online resource (27 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1451917031 9781451917031 1462328520 9781462328529 1452769249 9781452769240 1282843419 9781282843417 9786612843419 6612843411 1451872747 9781451872743 |
| ISSN: | 2227-8885 ; |