The Resource Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann

Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann

Label
Correcting external imbalances in the European economy
Title
Correcting external imbalances in the European economy
Statement of responsibility
Doris Hanzl-Weiss, Michael Landesmann
Creator
Contributor
Author
Subject
Language
eng
Summary
This paper examines current account developments in different country groups amongst the lower- and medium-income European economies (LMIEs) both prior to the crisis and following it. The Baltic countries, the Western Balkan as well as the Southern EU countries (Greece, Portugal and Spain) showed rather dramatic deteriorations in their current accounts prior to the outbreak of the financial crisis in 2008/2009, while in the Central and Eastern European countries current account deficits never exploded. What drove current account developments before the crisis and have external imbalances been sustainably corrected? We investigate whether and to which extent adjustments took place in terms of trade performance, real effective exchange rates and components of unit labour costs. Finally, we look at developments of the tradable and non-tradable sectors of the economy and find that structural current account problems are grounded in persistent weaknesses of the tradable sector. As such, policy implications would entail that countries which suffer from longer-term structural external imbalances have to strongly focus their policy attention on a recovery of the tradable sector.--
Member of
Assigning source
Provided by Publisher
Cataloging source
DEBBG
http://library.link/vocab/creatorName
Hanzl, Doris
Illustrations
charts
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
Landesmann, Michael A
Series statement
Research reports Wiener Institut für Internationale Wirtschaftsvergleiche;
Series volume
410
http://library.link/vocab/subjectName
  • Equilibrium (Economics)
  • European Union countries
Label
Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann
Instantiates
Publication
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17866546
Dimensions
30 cm.
Extent
43 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)952106127
Label
Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann
Publication
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17866546
Dimensions
30 cm.
Extent
43 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)952106127

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