Target Loans, Current Account Balances and Capital Flows

Released on by Hans-Werner Sinn
preview-18

  • Target Loans, Current Account Balances and Capital Flows Book Detail

  • Author : Hans-Werner Sinn
  • Release Date : 2011
  • Publisher :
  • Genre : Economics
  • Pages : 46
  • ISBN 13 :
  • File Size : 13,13 MB
DOWNLOAD BOOK

Target Loans, Current Account Balances and Capital Flows by Hans-Werner Sinn PDF Summary

Book Description: The European Monetary Union is stuck in a severe balance-of-payments imbalance of a nature similar to the one that destroyed the Bretton Woods System. Greece, Ireland, Portugal, Spain and Italy have suffered from balance-of-payments deficits whose accumulated value, as measured by the Target balances in the national central banks' balance sheets, was 404 billion euros in August 2011. The national central banks of these countries covered the deficits by creating and lending out additional central bank money that flowed to the euro core countries, Germany in particular, and crowded out the central bank money resulting from local refinancing operations. Thus the ECB forced a public capital export from the core countries that partly compensated for the now reluctant private capital flows to, and the capital flight from, the periphery countries.

Disclaimer: www.yourbookbest.com does not own Target Loans, Current Account Balances and Capital Flows books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Target Balances in the Euro Area

The Target Balances in the Euro Area

File Size : 56,56 MB
Total View : 1312 Views
DOWNLOAD

Seminar paper from the year 2012 in the subject Economics - Monetary theory and policy, grade: 1,3, University of Bayreuth, language: English, abstract: The Eur

Managing Elevated Risk

Managing Elevated Risk

File Size : 59,59 MB
Total View : 1487 Views
DOWNLOAD

This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It ela