Brauchen Wir Nationale Zahlungsbilanzen Im Euroraum? (Do We Need National Balance of Payments Statistics in the Euro Area?)

Abstract

In this paper it is argued that with the creation of the Eurozone the national balances of payments have lost their function as monetary indicators. In contrast, the integration of goods and services markets into a single European market has not completely disentitled the national balances on current account of their function as indicators of competitiveness: trade flows between regions are mirrored in respective income flows. The importance of the current account has decreased, however, as the income flows can now be financed on a much wider basis than before.

Keywords: Balance of Payments, Eurozone

JEL Classification: F15, F30