Series: Staff Discussion Notes
Author(s): Thierry Tressel , Shengzu Wang , Joong Kang , Jay Shambaugh , Jörg Decressin , and Petya Koeva Brooks
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 14 July 2014
Keywords: European Economic and Monetary Union, Europe, Euro Area, Current account deficits, Crisis, Current account, Rebalancing, Competitiveness, External stability, Labor market
Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area 'deficit economies' (Greece, Ireland, Portugal, and Spain)...