On The EU and Euro-zone Stability
| Autor: | Sardelis, Dimitris |
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| Rok vydání: | 2013 |
| Předmět: | |
| Druh dokumentu: | Working Paper |
| Popis: | The aim of the present article is to offer a strictly mathematical, statistical treatment of the current account balances in EU and in the Eurozone. Based on Eurostat data, an overview of the total and annual balances is first made for different collections among the EU countries. Then, using the Mathematica technical computing software, curve fitting is employed to determine the functions which best reflect how surpluses and deficits accumulate with time. It is shown that both EU and the Eurozone economies ultimately have to pass through a critical, turning point beyond which the accumulation of deficits exceeds the accumulation of surpluses thus marking a period of instability. An interval estimate at a ninety eight percent degree of confidence, yields that EU is found in a phase of instability since 2011 while the instability turning point for the Eurozone is bound to occur any year from 2015 to 2018. Comment: 20 pages, 16 figures |
| Databáze: | arXiv |
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