01674cas a2200253 a 4500 AALejournalIMF005867 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872743 1018-5941 BD-DhAAL BD-DhAAL Decressin, Jorg. Current Accounts in a Currency Union / Jorg Decressin, Emil Stavrev. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (23 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member states. This paper finds that divergences across euro-area countries are smaller and have not risen relative to those across 13 other advanced economies with more flexible exchange rates. Also, the size of country-specific current account shocks in EMU countries is smaller and their persistence is greater than in the other advanced economies. However, these differences in current account dynamics do not appear related to different exchange rate dynamics. Mode of access: Internet Stavrev, Emil. IMF Working Papers; Working Paper ; No. 2009/127 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/127/001.2009.issue-127-en.xml IMF e-Library