External Imbalances in the Euro Area »
Journal Issue
Volume/Issue: 2012/236
Series: IMF Working Papers
Author(s): Ruo Chen , Gian Milesi-Ferretti , and Thierry Tressel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 28 September 2012
DOI: http://dx.doi.org/10.5089/9781475524673.001
ISBN: 9781475524673
Keywords: euro area, external imbalances, financial integration, terms of trade shocks, trading partner, trading partners, trade shocks, commodity exporters, domestic demand, Institutions and the Macroeconomy
The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the risin...