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Europe and Global Imbalances
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Author/Editor: |
Lane, Philip R. | Milesi-Ferretti, Gian Maria |
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June 1, 2007 |
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Electronic Access: |
Free Full Text (PDF file size is 487KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under alternative scenarios, emphasizing both trade and financial channels. Finally, we consider heterogeneous exposure across individual European economies to external adjustment shocks.
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Order a print copy
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Series: |
Working Paper No. 07/144 |
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Subject(s): |
Financial integration | Capital flows | Europe | Current account balances |
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Author's keyword(s): |
Financial integration | capital flows | external assets and liabilities |
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Published: |
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June 1, 2007 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2007144 |
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Pages: |
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59 |
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Price: |
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US$18.00 (Academic Rate: US$18.00 )
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