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Imports and profitability in the euro area manufacturing sector: the role of emerging market economies

Peltonen, Tuomas A.; Skala, Martin; Santos Rivera, Alvaro; … - European Central Bank - 2008

The paper analyses the impact of import penetration on firms’ profitability in 15 manufacturing industries in 10 euro area countries during 1995-2004, focusing on the role of emerging market economies. Our results indicate that import competition from emerging market economies has had an...

Persistent link: https://www.econbiz.de/10005344831

Globalisation, domestic inflation and global output gaps: Evidence from the euro area

Calza, Alessandro - European Central Bank - 2008

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the …

Persistent link: https://www.econbiz.de/10005344845

The global financial crisis: trying to understand the global trade downturn and recovery

Anderton, Robert; Tewolde, Tadios - European Central Bank - 2011

This paper aims to shed light on why the downturn in global trade during the intensification of the financial crisis in 2008Q4-2009Q1 was so severe and synchronized across the world, and also examines the subsequent recovery in global trade during 2009Q2-2010Q1. The paper finds that a structural...

Persistent link: https://www.econbiz.de/10009277148

The rise of China and India: blessing or curse for the advanced countries?

Stracca, Livio - European Central Bank - 2013

This paper evaluates the impact of the rise of large emerging manufacturing exporters such as China and India on economic growth in advanced countries. After illustrating the possible theoretical channels, I estimate a growth regression based on 3-year average data augmented with...

Persistent link: https://www.econbiz.de/10010753735

Leading indicators in a globalised world

Fichtner, Ferdinand; Rüffer, Rasmus; Schnatz, Bernd - European Central Bank - 2009

to predict economic activity has diminished in recent years, e.g. due to rapid advances in globalisation. Overall, we …

Persistent link: https://www.econbiz.de/10008458421

The changing role of the exchange rate in a globalised economy.

Mauro, Filippo di; Rueffer, Rasmus; Bunda, Irina - European Central Bank - 2008

In addition to its direct effects on the global trading and production structure, the ongoing process of globalisation … of euro area exports to exchange rate changes may have declined somewhat as a result of globalisation, reflecting mainly …

Persistent link: https://www.econbiz.de/10005816120

Islamic finance in Europe

di Mauro, Filippo; Caristi, Pierluigi; Couderc, Stéphane; … - European Central Bank - 2013

Islamic finance is based on ethical principles in line with Islamic religious law. Despite its low share of the global financial market, Islamic finance has been one of this sector’s fastest growing components over the last decades and has gained further momentum in the wake of the financial...

Persistent link: https://www.econbiz.de/10010693515

Global commodity cycles and linkages a FAVAR approach

Lombardi, Marco J.; Osbat, Chiara; Schnatz, Bernd - European Central Bank - 2010

In this paper we examine linkages across non-energy commodity price developments by means of a factor-augmented VAR model (FAVAR). From a set of non-energy commodity price series, we extract two factors, which we identify as common trends in metals and a food prices. These factors are included...

Persistent link: https://www.econbiz.de/10008476127

Evolving Phillips trade-off

Benati, Luca - European Central Bank - 2010

, by itself, this does not rule out a possible impact of globalisation on the slope of the trade-off in recent years, it …

Persistent link: https://www.econbiz.de/10008476130

Monetary policy strategy in a global environment

Moutot, Philippe; Vitale, Giovanni - European Central Bank - 2009

This paper discusses the structural implications of real and financial globalisation, with the aim of drawing lessons … conclusion of the paper is that globalisation may have played only a limited role in reducing inflation and output volatility in … globalisation of financial markets over the last 25 years has had major implications for the conduct of monetary policy. Four …

Persistent link: https://www.econbiz.de/10005034283