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Current Accounts in a Currency Union / / Jörg Decressin, Emil Stavrev



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Autore: Decressin Jörg Visualizza persona
Titolo: Current Accounts in a Currency Union / / Jörg Decressin, Emil Stavrev Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 1 online resource (25 p.)
Soggetto topico: Foreign exchange rates - European Union countries
Foreign exchange - European Union countries
Exports and Imports
Foreign Exchange
Current Account Adjustment
Short-term Capital Movements
International economics
Currency
Foreign exchange
Current account
Real exchange rates
Current account balance
Real effective exchange rates
Exchange rates
Balance of payments
Soggetto geografico: Germany
Altri autori: StavrevEmil  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: 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
Sommario/riassunto: 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.
Titolo autorizzato: Current Accounts in a Currency Union  Visualizza cluster
ISBN: 1-4623-2852-0
1-4527-6924-9
1-282-84341-9
9786612843419
1-4518-7274-7
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910789098203321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/127