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 5 December 2022

Privacy, Data and Competition: The Case of Apps For Young Children

Vincent Lefrère (Institut Mines Telecom)

En salle 614 et en distanciel

Privacy, Data and Competition: The Case of Apps For Young Children

Monday 5 December 2022

Law, Institutions and Economics in Nanterre (LIEN)

Vincent Lefrère (Institut Mines Telecom)

En salle 614 et en distanciel

Privacy, Data and Competition: The Case of Apps For Young Children

Tuesday 6 December 2022

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

Eric Monnet (EHESS et PSE)

Le rôle d’amortisseur des banques centrales – une perspective historique

Tuesday 6 December 2022

Le rôle d’amortisseur des banques centrales – une perspective historique

Eric Monnet (EHESS et PSE)

Le rôle d’amortisseur des banques centrales – une perspective historique

Thursday 8 December 2022

Lunch

Georges Prat

12h - 13h, salle 110

Modeling ex-ante risk premiums in the oil market

Thursday 8 December 2022

Modeling ex-ante risk premiums in the oil market

Georges Prat

12h - 13h, salle 110

Modeling ex-ante risk premiums in the oil market

Monday 12 December 2022

Unemployment Insurance Eligibility and Employment Duration

Clément Brébion (Copenhagen BS)

En salle 614 et en distanciel

Unemployment Insurance Eligibility and Employment Duration

Monday 12 December 2022

Law, Institutions and Economics in Nanterre (LIEN)

Clément Brébion (Copenhagen BS)

En salle 614 et en distanciel

Unemployment Insurance Eligibility and Employment Duration

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