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- W2787525217 abstract "This paper studies the sources of current account deficits in Greece, Ireland, Portugal and Spain after the introduction of the Euro. I lay out a DSGE model with a rich structure of the external sector and estimate it separately on each periphery country. I show that the model exhibits a solid in-sample-fit across periphery countries and use it to quantitatively assess different explanations concerning the origin of the deficits. The focus thereby lies on the role of interest convergence in the early years of EMU as well as of the nominal appreciation of the Euro after 2001 together with the ECB's capability to prevent the build-up of the deficits and smoothen future current account adjustment processes via a nominal depreciation." @default.
- W2787525217 created "2018-02-23" @default.
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- W2787525217 date "2018-01-01" @default.
- W2787525217 modified "2023-09-27" @default.
- W2787525217 title "On the origin of current account deficits in the Euro area periphery: A DSGE perspective" @default.
- W2787525217 hasPublicationYear "2018" @default.
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