- Ziółkowski Michał (Szkoła Główna Handlowa w Warszawie)
- Rebalancing the Eurozone Troubled Economies
- International Journal of Management and Economics, 2013, nr 40, s. 96-118, wykr., tab., bibliogr.
Zeszyty Naukowe / Szkoła Główna Handlowa. Kolegium Gospodarki Światowej
- Strefa euro, Sytuacja makroekonomiczna, Ekonomiczne aspekty migracji, Pomoc finansowa UE, Eurosystem, Równowaga gospodarcza, Proces dostosowania
Eurozone, Macroeconomic situation, Economic aspects of migration, EU financial aid, Eurosystem, Economic equilibrium, Adjustment process
- The aim of the article is to assess how much rebalancing of the six eurozone troubled economies (Ireland, Portugal, Spain, Italy, Greece, Cyprus) was achieved since the outbreak of the financial crisis in 2007/2008, to what extent migrations were a mitigating factor on their labor markets and how much the troubled countries were assisted in their adjustment by other countries. The first part of the article shows an overall macroeconomic picture of the troubled economies' rebalancing together with a presentation of the etiology of the problem (i.e. accumulation of imbalances). The second part presents the role of migrations and the third part the role of the Eurosystem and international financial assistance in the rebalancing process. The research is based on comparing developments in selected indicators across countries. The conclusions are that the rebalancing in the troubled countries was either at most limited or actually their economies continued to fall out of balance (various indicators showing various developments make the situation ambiguous), migrations were either not much supportive for rebalancing of the troubled economies or they did not provide any dent to unemployment at all and that the troubled countries were provided with significant international assistance mainly in the form of the ECB policies causing the rise in the Target balances.(original abstract)
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The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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