Mr.Jay C Shambaugh

The Evolution of Current Account Deficits in the Euro Area Periphery and the Baltics

Many Paths to the Same Endpoint

Explanations of the large current account deficits for the euro area periphery and the Baltics in the run up to the crisis revolve around two main fac...

Adjustment in Euro Area Deficit Countries

Progress, Challenges, and Policies

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro...

Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of...

The Evolution of Current Account Deficits in the Euro Area Periphery and the Baltics

Many Paths to the Same Endpoint

Explanations of the large current account deficits for the euro area periphery and the Baltics in the run up to the crisis revolve around two main fac...