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Sustainability of External Imbalances - A Critical Appraisal (Paperback, 2015 ed.)
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Sustainability of External Imbalances - A Critical Appraisal (Paperback, 2015 ed.)
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Since the mid-1990s, sustainability of large and persistent current
account positions have been attracting much attention from policy
makers and economists alike. Alongside global imbalances,
sustainability of imbalances within the euro area, which started
widening shortly after the introduction of the euro, raised much
concern. While there exists a large body of theoretical and
empirical literature on sustainability of external imbalances, a
systematic survey has been lacking so far. Angelique Herzberg fills
this gap by examining a broad range of established sustainability
measures concerning their applicability to the various global and
intra-euro imbalances of the recent past. Furthermore, the author
examines the existence of feedback effects from an economys net
international investment position to its trade balance.
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