Balance-of-Payments Adjustment in the Eurozone

Stefano Micossi

CEPS Papers from Centre for European Policy Studies

Abstract: This policy contribution describes the unresolved adjustment problems confronting the eurozone, and places them in historical perspective by comparing developments in key real economic variables under EMU with those observed under the Bretton Woods system. The main finding is that the eurozone is afflicted by a strong deflationary bias and that, therefore, under current trends, deep economic and social strains will continue to project a dark cloud over its future survival.

Pages: 13 pages
Date: 2016-01
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eps:cepswp:11250

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