Analysis on the trade imbalances within the European Union

Inhaltsverzeichnis (Table of Contents)

• Introduction...
• The balance of trade within the Members of the European Union......
  • Problems with the management of the European Integration...
  • Trade imbalances...
• Literature review.
  • The financial markets integration and the intertemporal approach.………………….
  • The competitiveness approach......
  • Labor and product market flexibility..
• The empirical investigation.
  • Assessing the main determinants..
  • Data gathering..
  • Results..
• Policy implications in the European framework..
  • Interpretation of the results...
  • The Maastricht treaty and the optimal currency area theory.
  • The euroarea: ex-ante and ex-post considerations…..\li>

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This work aims to analyze the factors influencing trade imbalances among European Union countries. The analysis considers elements that could affect the trade balance, such as saving and investment. The study utilizes panel data from 2002 to 2013, excluding Eastern European countries, to investigate the impact of productivity, inflation, consumption, wage levels, capital movements, demographics, economic growth, and public and private debt levels on trade imbalances.

• Impact of productivity and capital movements on trade imbalances in peripheral countries.
• Role of capital movements in financing consumption surges and credit booms in Greece, Portugal, Spain, and Ireland.
• Importance of the balance of trade for investors during the European sovereign debt crisis.
• Need for coordinated economic policies in the euro area to minimize the costs of a currency union.
• Potential benefits of fiscal transfers and reforms to enhance productivity in peripheral countries.

Zusammenfassung der Kapitel (Chapter Summaries)

The first chapter provides an overview of the economic crisis and its impact on the European Union, highlighting the disparities between member states. Chapter 2 examines the balance of trade within the European Union, focusing on the challenges of managing European integration and trade imbalances. Chapter 3 delves into the literature review, exploring various perspectives on the integration of financial markets, competitiveness, and labor and product market flexibility. Chapter 4 presents the empirical investigation, assessing the main determinants of trade imbalances, data gathering methods, and results. Chapter 5 explores the policy implications for the European framework, interpreting the results, discussing the Maastricht treaty and the optimal currency area theory, and examining the euro area from ex-ante and ex-post perspectives.

Schlüsselwörter (Keywords)

The main keywords and focus topics of this work include trade imbalances, European Union, euro area, productivity, capital movements, competitiveness, labor market flexibility, economic growth, sovereign debt crisis, Maastricht treaty, optimal currency area, and fiscal transfers.