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Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

Progress Towards External Adjustment in the Euro Area Periphery and the Baltics »

Source: Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

Volume/Issue: 2014/131

Series: IMF Working Papers

Author(s): Joong Kang , and Jay Shambaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2014

ISBN: 9781498364713

Keywords: Current account deficit, Internal devaluation, Competitiveness, current account, employment, unemployment, unemployment rates, Open Economy Macroeconomics,

The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances....

Wage Moderation in Crises

Wage Moderation in Crises »

Source: Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area

Volume/Issue: 2015/22

Series: Staff Discussion Notes

Author(s): Jörg Decressin , Raphael Espinoza , Ioannis Halikias , Michael Kumhof , Daniel Leigh , Prakash Loungani , Paulo Medas , Susanna Mursula , Antonio Spilimbergo , and TengTeng Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

ISBN: 9781513537009

Keywords: Wage bargaining, Euro Area, Wage adjustments, Negative spillovers, Monetary policy, Euro area, Crisis, Current account, Internal devaluation, Unemployment

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy...

Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

Progress Towards External Adjustment in the Euro Area Periphery and the Baltics »

Volume/Issue: 2014/131

Series: IMF Working Papers

Author(s): Joong Kang , and Jay Shambaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2014

DOI: http://dx.doi.org/10.5089/9781498364713.001

ISBN: 9781498364713

Keywords: Current account deficit, Internal devaluation, Competitiveness, current account, employment, unemployment, unemployment rates, Open Economy Macroeconomics,

The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances....

Wage Moderation in Crises
			: Policy Considerations and Applications to the Euro Area

Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area »

Volume/Issue: 2015/22

Series: Staff Discussion Notes

Author(s): Jörg Decressin , Raphael Espinoza , Ioannis Halikias , Michael Kumhof , Daniel Leigh , Prakash Loungani , Paulo Medas , Susanna Mursula , Antonio Spilimbergo , and TengTeng Xu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 November 2015

DOI: http://dx.doi.org/10.5089/9781513537009.006

ISBN: 9781513537009

Keywords: Wage bargaining, Euro Area, Wage adjustments, Negative spillovers, Monetary policy, Euro area, Crisis, Current account, Internal devaluation, Unemployment

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy...