Nagengast, Arne J.; Stehrer, Robert - Deutsche Bundesbank - 2014
novel decomposition of bilateral gross trade balances that accounts for the differences between gross and value added … decomposition framework to the development of intra-EU27 trade balances from 1995 to 2011 and show that a growing share of intra …-EU bilateral trade balances is due to demand in countries other than the two direct trading partners. The latter accounted for 25 …