caa a22 4500 463158377 CHVBK 20180406164740.0 cr unu---uuuuu 170326e20070401xx s 000 0 eng 10.1007/s10258-006-0015-4 doi (NATIONALLICENCE)springer-10.1007/s10258-006-0015-4 Blanchard Olivier Department of Economics, MIT, Cambridge, Massachusetts, USA aut Adjustment within the euro. The difficult case of Portugal [Elektronische Daten] [Olivier Blanchard] In the second half of the 1990s, the prospect of entry in the euro led to an output boom and large current account deficits in Portugal. Since then, the boom has turned into a slump. Current account deficits are still large, and so are budget deficits. This paper reviews the facts, the likely adjustment in the absence of major policy changes, and examines policy options. Springer-Verlag, 2006 Common currency nationallicence Euro nationallicence Appreciation nationallicence Depreciation nationallicence Competitiveness nationallicence Current account deficit nationallicence Expansion nationallicence Recession nationallicence Portugal nationallicence Productivity growth nationallicence Portuguese Economic Journal Springer-Verlag 6/1(2007-04-01), 1-21 1617-982X 6:1<1 2007 6 10258 https://doi.org/10.1007/s10258-006-0015-4 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10258-006-0015-4 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Blanchard Olivier Department of Economics, MIT, Cambridge, Massachusetts, USA aut NATIONALLICENCE 773 0- Portuguese Economic Journal Springer-Verlag 6/1(2007-04-01), 1-21 1617-982X 6:1<1 2007 6 10258 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer