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A Descriptive Assessment of the Effects of Lehman Brothers’ Shock on the External Equilibrium in Some Euro Area Countries

Author

Listed:
  • Adina Criste

    (CCFM “Victor Slavescu”, Romania)

  • Camelia Milea

    (CCFM “Victor Slavescu”, Romania)

  • Alina Georgeta Ailinca

    (PhD Student, CCFM “Victor Slavescu”, Romania)

Abstract

The purpose of this article is the assessment of the way in which the propagation of the Lehman-Brothers shock has been reflected on the developments in the balance of payments of some countries in the euro area and the highlighting of the asymmetries, which have emerged due to the generated effects. The motivation is represented by the importance of the asymmetries manifestation within a monetary area, by the effects they have on the implementation of the common policies, and by their causes: are these asymmetries generated by asymmetric macroeconomic shocks or by the accumulation in time of some vulnerable elements in the economy? The paper is a capitalization of the research project “External equilibrium and asymmetric shocks” elaborated in 2012, at “Victor Slavescu” Centre for Financial and Monetary Research of “Costin C. Kiritescu” Institute for Economic Research, Romanian Academy.

Suggested Citation

  • Adina Criste & Camelia Milea & Alina Georgeta Ailinca, 2013. "A Descriptive Assessment of the Effects of Lehman Brothers’ Shock on the External Equilibrium in Some Euro Area Countries," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 6(6), pages 95-105, December.
    • Handle: RePEc:dug:actaec:y:2013:i:6:p:95-105
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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/2001/2005
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    References listed on IDEAS

    as
    1. Mongelli, Francesco Paolo, 2002. "ìNew" Views on the Optimum Currency Area Theory: What is EMU Telling US?," Royal Economic Society Annual Conference 2002 140, Royal Economic Society.
    2. Ms. Ruo Chen & Mr. Gian M Milesi-Ferretti & Mr. Thierry Tressel, 2012. "External Imbalances in the Euro Area," IMF Working Papers 2012/236, International Monetary Fund.
    3. Holger Zemanek & Ansgar Belke & Gunther Schnabl, 2009. "Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness," Discussion Papers of DIW Berlin 895, DIW Berlin, German Institute for Economic Research.
    4. Criste, Adina, 2009. "Coordonate Ale Şocurilor Asimetrice În Zona Monetară," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 13(3), pages 55-66.
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    Cited by:

    1. MILEA, Camelia, 2013. "Risks And Constraints For The Monetary Stability," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 17(3), pages 52-62.

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