Artikel
Fiscal divergence, current account divergence and TARGET2 imbalances in the EMU
Diverging fiscal policy paths, housing booms and diverging unit labour costs were driving forces of rising intra-European current account imbalances, which were underpinned by low interest rates. Since the outbreak of the crisis, the adjustment of intra-EMU current account imbalances has been postponed by a rising divergence of TARGET2 balances, as the repatriation of private international credit and deposit fl ight from the crisis economies is intermediated by central bank credit. Given that this process has brought the Deutsche Bundesbank into a debtor position to the domestic fi nancial system, the article discusses options for liquidity absorption by the Bundesbank to forestall asset price bubbles in Germany.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Intereconomics ; ISSN: 1613-964X ; Volume: 48 ; Year: 2013 ; Issue: 1 ; Pages: 51-58 ; Heidelberg: Springer
- Klassifikation
-
Wirtschaft
- Thema
-
Leistungsbilanz
Zahlungsbilanzungleichgewicht
Finanzpolitik
Europäische Wirtschafts- und Währungsunion
Internationaler Zahlungsverkehr
Verrechnungsverkehr
Europäische Wirtschafts- und Währungsunion
Geldpolitik
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Abad, José
Löffler, Axel
Schnabl, Gunther
Zemanek, Holger
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2013
- DOI
-
doi:10.1007/s10272-013-0444-0
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Abad, José
- Löffler, Axel
- Schnabl, Gunther
- Zemanek, Holger
- Springer
Entstanden
- 2013
Ähnliche Objekte (12)
Fiscal Divergence and Current Account Imbalances in Europe
Fiscal divergence and current account imbalances in Europe
Fiscal divergence, current account and TARGET2 imbalances in the EMU
The Brexit as a Forerunner: Monetary Policy, Economic Order and Divergence Forces in the European Union
Exchange rate volatility and growth in small open economies at the EMU periphery
Determinants of Global and Intra-European Imbalances
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
EMU entry strategies for the New Member States
Post-COVID-19 EMU: Economic Distancing by Parallel Currencies
Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets
Convergence or Divergence in the EMU?
Fiscal Divergence and Current Account Imbalances in Europe
Fiscal divergence and current account imbalances in Europe
Fiscal divergence, current account and TARGET2 imbalances in the EMU
The Brexit as a Forerunner: Monetary Policy, Economic Order and Divergence Forces in the European Union
Exchange rate volatility and growth in small open economies at the EMU periphery
Determinants of Global and Intra-European Imbalances
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
EMU entry strategies for the New Member States
Post-COVID-19 EMU: Economic Distancing by Parallel Currencies
Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets
Convergence or Divergence in the EMU?
Fiscal Divergence and Current Account Imbalances in Europe
Fiscal divergence and current account imbalances in Europe
Fiscal divergence, current account and TARGET2 imbalances in the EMU
The Brexit as a Forerunner: Monetary Policy, Economic Order and Divergence Forces in the European Union
Exchange rate volatility and growth in small open economies at the EMU periphery
Determinants of Global and Intra-European Imbalances
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
Macroeconomic Policy Making and Current Account Imbalances in the Euro Area
EMU entry strategies for the New Member States
Post-COVID-19 EMU: Economic Distancing by Parallel Currencies
Macroeconomic Policy Making, Exchange Rate Adjustment and Current Account Imbalances in Emerging Markets