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
Resource Information
The item Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- 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.--
- Language
- eng
- Label
- Correcting external imbalances in the European economy
- Title
- Correcting external imbalances in the European economy
- Statement of responsibility
- Doris Hanzl-Weiss, Michael Landesmann
- 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.--
- 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
- 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
- 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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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Correcting-external-imbalances-in-the-European/WUGQjOL4eNU/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Correcting-external-imbalances-in-the-European/WUGQjOL4eNU/">Correcting external imbalances in the European economy, Doris Hanzl-Weiss, Michael Landesmann</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
