Series: IMF Working Papers
Author(s): Jörg Decressin , and Emil Stavrev
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2009
Keywords: currency union, EMU, real exchange rate, exchange rate, current accounts, current account balance,
A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences across euro-area...