Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Arbeitspapier

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro area imbalances. A panel regression reveals a significant impact of private restructuring and public structural reforms on intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers the best way to preserve long-term economic stability in Europe.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Policy Paper ; No. 7

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity ; Economic Integration ; Trade and Labor Market Interactions ; Current Account Adjustment; Short-term Capital Movements ; International Monetary Arrangements and Institutions
• Thema: structural reforms ; competitiveness ; current account imbalances ; euro area ; European Monetary Union ; dynamic panel estimation ; interaction term ; Außenwirtschaftliches Gleichgewicht ; Eurozone ; Internationaler Wettbewerb ; Wirtschaftsreform ; Sozialreform ; Wirtschaftliche Anpassung ; EU-Staaten

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Zemanek, Holger ; Belke, Ansgar ; Schnabl, Gunther
• Ereignis: Veröffentlichung
• (wer): Institute for the Study of Labor (IZA)
• (wo): Bonn
• (wann): 2009

Weitere Informationen

• Handle: http://hdl.handle.net/10419/91780
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ