Current Account Imbalances in Europe

By Philip R. Lane, B. Pels. 2012

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Financial Globalisation and the Crisis (2012, unknown): “However, Lane and Pels (2012) show that differences in growth projections across countries emerged as a strong correlate of current account imbalances during the 2003–2007 period in which the level of dispersion in external positions sharply increased.”
Crisis and recovery in the German economy: The real lessons (2015, background): “…construction and real-estate ooms and consumer binges – in the expectation that n the new ECB-governed single-currency area, periphral institutions and incomes would converge to those of urope’s core countries and hence their credit risks would urn out to be small (Lane and Pels, 2012; Lane, 2013).”