Excessive Imbalances and Debt Crisis in the Eurozone

摘要：

　　The main goal of the paper is to analyze the key factors that contributed to the macroeconomic imbalances and their impact on the debt crisis in the eurozone countries.Regression and correlation analysis indicated statistically significant relations between the key macroeconomic indicators,such as the current account,net international investment position,fiscal deficit and public debt.The paper found excessive imbalances within the eurozone countries.The study came to the conclusion that those countries that lost their competitiveness had external deficits,which caused fiscal deficits,and overall fiscal unsustainability.Therefore,to put the economy of eurozone countries on sustainable path a comprehensive reform agenda should be put in a place,mainly,medium-term fiscal consolidation plan,including structural reform in all eurozone countries.

关键词： current account balance public debt sustainability public finance

作者: Juraj Sipko

作者单位: Paneuropean University, Bratislava, Slovak Republic

会议类型: 国际会议

会议名称: 2013 International Conference on Information, Business and Education Technology (2013信息、商业与教育技术国际会议(ICIBET 2013))

会议地点: 北京

会议语种:英文

页码: 268-271

在线出版日期: 2013-03-14（万方平台首次上网日期，不代表论文的发表时间）