Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
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St. Louis: Federal Reserve Bank of St. Louis
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English
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St. Louis: Federal Reserve Bank of St. Louis
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The paper examines progress with the external rebalancing of euro area deficit countries. Relative prices are adjusting at different pace across countries and with different compositions of wage cuts and labor shedding. There is so far limited evidence of resource re-allocation from non-tradable to tradable sectors, while improved export performanc...
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Rebalancing in the Euro Area and Cyclicality of Current Account Adjustments
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TN_cdi_proquest_journals_1698604619
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_1698604619
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https://www.proquest.com/docview/1698604619?pq-origsite=primo&accountid=13902
