European Macroeconomic Imbalances and Policy Adjustments
This is a study of the imbalances in current accounts of Eurozone countries and possible adjustment mechanisms.
The study is broken down into three parts:
- a study of the growing imbalances in current accounts inside the eurozone and the compensating factors;
- a critical look at the standard models that theorized that a virtuous rebalancing mechanism would establish itself without adjustments;
- an analysis of the structural adjustments adopted by the European Union (EU) and the Economic and Monetary Union (EMU) after the sovereign debt and banking crises.