Imbalances in the Euro Area

Stefan Ederer

Austrian Economic Quarterly, 2010, vol. 15, issue 3, 277-290

Abstract: In recent years, substantial current account imbalances and divergences of competitiveness emerged in the euro area. These disparities endanger the cyclical recovery and impair medium-term economic growth as well as the cohesion in the monetary union. The reduction of the imbalances will dampen economic growth in the euro area for several years to come. It could, however, occur in an environment of stronger growth, too, if productivity increased in the deficit countries and if Germany strengthened its domestic demand.

Keywords: current account trends; demand trends; economic crisis; euro area; financial crisis (search for similar items in EconPapers)
Date: 2010
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