Current Account ‘Core-Periphery Dualism’ in the EMU
Tatiana Cesaroni, Roberta De Santis. Current account dispersion within EU member states has been increasing since the 1990s. Interestingly, the persistent deficits in many peripheral countries have not been accompanied by a significant growth process that is able to stimulate a long-run rebalancing, as neoclassical theory predicts. To shed light on the issue this paper investigates […]