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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Social Science Research Network
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro area imbalances. A panel regression reveals a significant impact of private restructuring and public structural reforms on intra-eurodoi:10.2139/ssrn.1400645 fatcat:xq7zazgr5vblrg7wiljzhs4tyq