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Regional Economic Outlook, May 2018, Europe

Managing the Upswing in Uncertain Times

The Spring EUR REO projects the economic outlook for the region for the next six months.

Current Accounts in a Currency Union

Current Accounts in a Currency Union »

Volume/Issue: 2009/127

Series: IMF Working Papers

Author(s): Jörg Decressin , and Emil Stavrev


Publication Date: 01 June 2009


ISBN: 9781451872743

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...