Nitsch, Volker ; Berger, Helge (2013)
On the Persistence of Trade Imbalances:
Evidence from Europe.
Report, Erstveröffentlichung
Kurzbeschreibung (Abstract)
Does exchange rate variability affect the speed of external adjustment? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs of countries or in the overall trade competitiveness of individual countries. Intra-euro area imbalances also seem to have become more persistent with the introduction of the euro. Greater persistence is partially linked to economic and regulatory inflexibilities, such as fiscal restrictions and labor market rigidities.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2013 |
| Autor(en): | Nitsch, Volker ; Berger, Helge |
| Art des Eintrags: | Erstveröffentlichung |
| Titel: | On the Persistence of Trade Imbalances: Evidence from Europe |
| Sprache: | Englisch |
| Publikationsjahr: | 20 März 2013 |
| Ort: | Darmstadt |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Band einer Reihe: | 217 |
| URL / URN: | http://tuprints.ulb.tu-darmstadt.de/4709 |
| Kurzbeschreibung (Abstract): | Does exchange rate variability affect the speed of external adjustment? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs of countries or in the overall trade competitiveness of individual countries. Intra-euro area imbalances also seem to have become more persistent with the introduction of the euro. Greater persistence is partially linked to economic and regulatory inflexibilities, such as fiscal restrictions and labor market rigidities. |
| Freie Schlagworte: | imbalances, trade balance, trade surplus, trade deficit, persistence, euro, EMU,European integration |
| URN: | urn:nbn:de:tuda-tuprints-47094 |
| Zusätzliche Informationen: | JEL Code: F15; F16; F32; F36; F42 |
| Sachgruppe der Dewey Dezimalklassifikatin (DDC): | 300 Sozialwissenschaften > 330 Wirtschaft |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Internationale Wirtschaft |
| Hinterlegungsdatum: | 31 Jan 2016 20:56 |
| Letzte Änderung: | 17 Nov 2021 08:07 |
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