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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Decressin, Jörg (Autor), Stavrev, Emil (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington D.C.] : International Monetary Fund, 2009.
Colección:IMF working paper ; WP/09/127.
Temas:
Foreign exchange rates > European Union countries.
Foreign exchange > European Union countries.
Taux de change > Pays de l'Union européenne.
Change > Pays de l'Union européenne.
Foreign exchange
Foreign exchange rates
Leistungsbilanz.
Währungsunion.
Kaufkraftparität.
Europäische Wirtschafts- und Währungsunion.
EU-Staaten.
European Union countries
Acceso en línea:Texto completo
Tabla de Contenidos:
  • I. Introduction; II. The Literature; III. The Data; IV. Current Account Divergences and Dynamics; Figures; 1. Current Account Dispersions; 2. Adjustment to Country-Specific Current Account Shocks 1/; V. The Role of the Exchange Rate and Other Factors; 3. Real Exchange Rate Dispersions; Tables; 1. Estimates of Speed of Adjustment of Current Accounts; 4a: EMU and Other Countries: Impulse Responses of the Current Account; 4b: EMU and Other Countries: Impulse Responses of the Real Exchange Rate; 2. Current Account and Real Exchange Rate Persistence.
  • 5. EMU and Other Countries: Correlation Between Current Account3. Estimates of the Current Account Equation; 4. EMU Countries: Current Account Dispersions and NFA; 6. EMU Countries: Fundamental Current Account Dispersions; VI. Conclusion; 7. EMU Countries: Dispersions of Determinants of Current Accounts; Appendix; 8: EMU Countries: Testing for Structural Breaks; References.

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