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Sustainability of External Imbalances

A Critical Appraisal

  • Book
  • © 2015

Overview

Authors:
  1. Angélique Herzberg

    1. Lehrstuhl für Volkswirtschaftslehre, Heinrich-Heine-Universität, Düsseldorf, Germany

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  • Publication in the field of economic sciences

  • Includes supplementary material: sn.pub/extras

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Table of contents (8 chapters)

  1. Front Matter

    Pages I-XI
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  2. Introduction

    • Angélique Herzberg
    Pages 1-10

  3. Digression on balance of payments accounting identities

    • Angélique Herzberg
    Pages 11-16

  4. Intertemporal budget constraint as a sustainability criterion

    • Angélique Herzberg
    Pages 17-48

  5. Empirical implications of the intertemporal budget constraint

    • Angélique Herzberg
    Pages 49-80

  6. Empirical studies on the validity of the intertemporal budget constraint

    • Angélique Herzberg
    Pages 81-171

  7. Dynamic benchmarks of external sustainability

    • Angélique Herzberg
    Pages 173-234

  8. Indicators of external sustainability

    • Angélique Herzberg
    Pages 235-289

  9. Concluding discussion

    • Angélique Herzberg
    Pages 291-295

  10. Back Matter

    Pages 297-329
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Keywords

About this book

Since the mid-1990s, sustainability of large and persistent current account positions have been attracting much attention from policy makers and economists alike. Alongside global imbalances, sustainability of imbalances within the euro area, which started widening shortly after the introduction of the euro, raised much concern. While there exists a large body of theoretical and empirical literature on sustainability of external imbalances, a systematic survey has been lacking so far. Angélique Herzberg fills this gap by examining a broad range of established sustainability measures concerning their applicability to the various global and intra-euro imbalances of the recent past. Furthermore, the author examines the existence of feedback effects from an economy´s net international investment position to its trade balance.

Authors and Affiliations

  • Lehrstuhl für Volkswirtschaftslehre, Heinrich-Heine-Universität, Düsseldorf, Germany

    Angélique Herzberg

About the author

Angélique Herzberg obtained a PhD in Economics in 2013 from Heinrich-Heine-University, Düsseldorf. Her areas of specialization are international macroeconomics and finance.

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