caa a22 4500 606237488 CHVBK 20210128101253.0 cr unu---uuuuu 210128e20150901xx s 000 0 eng 10.1007/s10272-015-0555-x doi (NATIONALLICENCE)springer-10.1007/s10272-015-0555-x Kutasi Gábor Faculty of Economics, Corvinus University of Budapest, Fővám tér 8, 1093, Budapest, Hungary aut External Imbalances in the EU: A REER-based Explanation [Elektronische Daten] [Gábor Kutasi] The debt crisis of the eurozone revealed a structural problem of the single market rooted in the external imbalance problem of indebted member states. The assumption of this paper is that the current account imbalances within the eurozone are based on an intra-eurozone competitiveness disparity originated in the single currency and the heterogeneity of member state development. The mix of infinite pegging and heterogeneity creates real effective exchange rate appreciation in the less competitive members, which further ruins their competitiveness in the EU. ZBW and Springer-Verlag Berlin Heidelberg, 2015 Intereconomics Springer Berlin Heidelberg 50/5(2015-09-01), 301-308 0020-5346 50:5<301 2015 50 10272 https://doi.org/10.1007/s10272-015-0555-x text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10272-015-0555-x text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Kutasi Gábor Faculty of Economics, Corvinus University of Budapest, Fővám tér 8, 1093, Budapest, Hungary aut NATIONALLICENCE 773 0- Intereconomics Springer Berlin Heidelberg 50/5(2015-09-01), 301-308 0020-5346 50:5<301 2015 50 10272