Current account imbalances in the euro area: competitiveness or demand shock?
Overall, the export performance of euro area defi cit countries has not declined despite the losses in cost competitiveness recorded before the crisis. Capital infl ows into the non-tradable sectors of the economy are a better explanation of both the defi cits and the rise in relative prices.
Volume (Year): (2012)
Issue (Month): 27 (Autumn)
|Contact details of provider:|| Postal: Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS|
Web page: http://www.banque-france.fr/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012.
"International Capital Flows and House Prices: Theory and Evidence,"
NBER Chapters,in: Housing and the Financial Crisis, pages 235-299
National Bureau of Economic Research, Inc.
- Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012. "International Capital Flows and House Prices: Theory and Evidence," NBER Working Papers 17751, National Bureau of Economic Research, Inc.
- Philippe Askenazy & Gilbert Cette & Arnaud Sylvain, 2011. "Le partage de la valeur ajoutée," Post-Print halshs-00654669, HAL.
- Aránzazu Crespo Rodríguez & Gabriel Pérez-Quirós & Rubén Segura Cayuela, 2012. "Competitiveness indicators: the importance of an efficient allocation of resources," Economic Bulletin, Banco de España;Economic Bulletin Homepage, issue JAN, January.
- Giavazzi, Francesco & Spaventa, Luigi, 2010. "Why the current account may matter in a monetary union: Lessons from the financial crisis in the Euro area," CEPR Discussion Papers 8008, C.E.P.R. Discussion Papers.
- Francesco Giavazzi & Luigi Spaventa, 2011. "Why the current account may matter in a monetary union. Lesson from the financial crisis in the Euro area," Working Papers 426, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Olivier Blanchard & Francesco Giavazzi, 2002. "Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 33(2), pages 147-210.
- Lane, Philip R. & Pels, Barbara, 2012. "Current Account Imbalances in Europe," CEPR Discussion Papers 8958, C.E.P.R. Discussion Papers.
- Philip R. Lane & Barbara Pels, 2012. "Current Account Imbalances in Europe," The Institute for International Integration Studies Discussion Paper Series iiisdp397, IIIS.