Current accounts in a currency union /
prepared by Jörg Decressin and Emil Stavrev.

Description

Main Author

Decressin, Jörg.

Related Names

Stavrev, Emil.
International Monetary Fund. European Dept.
International Monetary Fund. Research Dept.

Language(s)

English

Published

[Washington, D.C.] : International Monetary Fund, Research Dept. and European Dept., 2009.

Subjects

Foreign exchange rates > Foreign exchange rates / European Union countries.
Monetary unions > Monetary unions / European Union countries.
Balance of payments > Balance of payments / European Union countries.

Summary

"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 rate dynamics."- -Abstract.

Note

"June 2009."

Physical Description

23 p. : ill ; 29 cm.

Locate a Print Version

Find in a library

Viewability