Joint research unit 7235

Heterogeneity of the current account imbalances in the euro area: an appraisal of the underlying forces

Speaker :Emmanuelle Faure

Discutants: Francisco Serranito (sénior), Djeneba Drame (junior)

Abstract :

This paper revisits the crucial issue of global imbalances and focuses on the determinants of the current account gaps between eurozone Member States. We conduct robust estimations of the current account balances for a panel of ten euro area economies and construct a measure that allows us to diagnose why some countries have started to diverge from the eurozone mean in the last two decades. Our findings show evidence of remaining differences in countries’ economic development, meaning that real macroeconomic convergence has failed in the zone. Price and cost competitiveness, as well as fiscal balances, have also participated in this growing macroeconomic divergence. Overall, while the European authorities cannot influence the part of the gaps due to demographic factors, the role of fiscal redistribution and investment at the euro area level could help achieve macroeconomic convergence..

AGENDA

Monday 27 March 2023

Professeurs invités

Axel Gautier

Thursday 30 March 2023

Artificial intelligence, labour transformations, and inconspicuous inequalities: women’s work on digital ‘micro-tasking’ platforms

Paola Tubaro (CREST)

Salle : G614B

Artificial intelligence, labour transformations, and inconspicuous inequalities: women’s work on digital ‘micro-tasking’ platforms

Thursday 30 March 2023

Groupe de travail “Intelligence artificielle”

Paola Tubaro (CREST)

Salle : G614B

Artificial intelligence, labour transformations, and inconspicuous inequalities: women’s work on digital ‘micro-tasking’ platforms

Thursday 30 March 2023

Doctorants

Morel Tien

Migration et synchronisation des cycles

Thursday 30 March 2023

Migration et synchronisation des cycles

Morel Tien

Migration et synchronisation des cycles

Monday 3 April 2023

Law, Institutions and Economics in Nanterre (LIEN)

Stefania Marcassa (CY Cergy)

En salle 614 et en distanciel

TBA

Monday 3 April 2023

TBA

Stefania Marcassa (CY Cergy)

En salle 614 et en distanciel

TBA

Tuesday 4 April 2023

Recherche et Economie et Socioéconomie Politique, des Institutions et des Régulations (RESPIR)

Franck Bessis (Triangle et Université Lyon 2)

Une ethnographie de l’expertise économique d’Etat

Inscription aux Newsletters

Newsletter subscription