Competitividade e restrição externa na Zona do Euro
The recent debt crisis in Greece, Ireland and Portugal has exposed the fragility existing in the Eurozone for promoting development and economic convergence between the countries that have adopted the currency. Way beyond the fear of insolvency, what is observed is a growing disparity of the most-de...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Editora 34
2013-03-01
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| Series: | Brazilian Journal of Political Economy |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572013000100002&lng=en&tlng=en |
| _version_ | 1817993936542629888 |
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| author | André Sander Diniz Frederico G. Jayme Jr. |
| author_facet | André Sander Diniz Frederico G. Jayme Jr. |
| author_sort | André Sander Diniz |
| collection | DOAJ |
| description | The recent debt crisis in Greece, Ireland and Portugal has exposed the fragility existing in the Eurozone for promoting development and economic convergence between the countries that have adopted the currency. Way beyond the fear of insolvency, what is observed is a growing disparity of the most-developed countries in comparison to the less-developed ones, with perverse consequences for the last ones. Once the nominal exchange rates are fixed, the divergent movements in relative prices and wages between the countries have led to totally distinct paths for the real exchange rates. Worsening the scenario, one can observe the incompleteness of the political union, the monetarist focus of the ECB and the lack of labor mobility between the countries, what distances from the argument stated by the theory and puts in jeopardize the future of the Monetary Union. |
| first_indexed | 2024-04-14T01:46:20Z |
| format | Article |
| id | doaj.art-e7a461a2a6b84892abd8d91b4313243f |
| institution | Directory Open Access Journal |
| issn | 1809-4538 |
| language | English |
| last_indexed | 2024-04-14T01:46:20Z |
| publishDate | 2013-03-01 |
| publisher | Editora 34 |
| record_format | Article |
| series | Brazilian Journal of Political Economy |
| spelling | doaj.art-e7a461a2a6b84892abd8d91b4313243f2022-12-22T02:19:33ZengEditora 34Brazilian Journal of Political Economy1809-45382013-03-01331174010.1590/S0101-31572013000100002S0101-31572013000100002Competitividade e restrição externa na Zona do EuroAndré Sander Diniz0Frederico G. Jayme Jr.1Universidade Federal de Minas GeraisUniversidade Federal de Minas GeraisThe recent debt crisis in Greece, Ireland and Portugal has exposed the fragility existing in the Eurozone for promoting development and economic convergence between the countries that have adopted the currency. Way beyond the fear of insolvency, what is observed is a growing disparity of the most-developed countries in comparison to the less-developed ones, with perverse consequences for the last ones. Once the nominal exchange rates are fixed, the divergent movements in relative prices and wages between the countries have led to totally distinct paths for the real exchange rates. Worsening the scenario, one can observe the incompleteness of the political union, the monetarist focus of the ECB and the lack of labor mobility between the countries, what distances from the argument stated by the theory and puts in jeopardize the future of the Monetary Union.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572013000100002&lng=en&tlng=enexchange ratecurrency areainflationcurrent accountbalance-of--payments constraints |
| spellingShingle | André Sander Diniz Frederico G. Jayme Jr. Competitividade e restrição externa na Zona do Euro Brazilian Journal of Political Economy exchange rate currency area inflation current account balance-of--payments constraints |
| title | Competitividade e restrição externa na Zona do Euro |
| title_full | Competitividade e restrição externa na Zona do Euro |
| title_fullStr | Competitividade e restrição externa na Zona do Euro |
| title_full_unstemmed | Competitividade e restrição externa na Zona do Euro |
| title_short | Competitividade e restrição externa na Zona do Euro |
| title_sort | competitividade e restricao externa na zona do euro |
| topic | exchange rate currency area inflation current account balance-of--payments constraints |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572013000100002&lng=en&tlng=en |
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