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Record Nr. |
UNINA9910464579703321 |
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Autore |
Decressin Jörg |
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Titolo |
Current Accounts in a Currency Union [[electronic resource]] |
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Pubbl/distr/stampa |
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Washington, : International Monetary Fund, 2009 |
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ISBN |
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1-4623-2852-0 |
1-4527-6924-9 |
1-282-84341-9 |
9786612843419 |
1-4518-7274-7 |
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Descrizione fisica |
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1 online resource (25 p.) |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di contenuto |
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Contents; 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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Sommario/riassunto |
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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 |
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