External imbalances in the Euro area /
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Author / Creator: | Chen, Ruo. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2012. |
Description: | 1 online resource (49 pages) |
Language: | English |
Series: | IMF working paper ; WP/12/236 IMF working paper ; WP/12/236. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12500854 |
Table of Contents:
- Cover; Abstract; Table of Contents; I. Introduction; II. Stylized facts on euro area imbalances and their interpretation; A. Stylized Facts; B. Traditional Explanations for the rise of euro area imbalances; Intra-euro Area Financial Integration and Expected Growth; "Over-Optimism" and Excessive Real Appreciation; III. Euro Area imbalances and the rest of the world: new stylized facts; A. Real exchange rate appreciation; B. Trade developments with non-euro area countries; C. Capital flows; IV. Econometric evidence of the asymmetric impact of trade shocks on export competitiveness.
- A. HypothesisB. Econometric Analysis: asymmetric effects of trade shocks and of the nominal exchange rate on euro area countries; Export regressions; Import regressions
- displacement effect; Estimates of asymmetric impact of world trade shocks; V. The financing of euro area debtor countries; A. Financial integration and NFA positions; B. Sectoral and instrument composition of the NFA position; VI. Concluding remarks; References; Appendix.