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Competitiveness and External Imbalances within the Euro Area

Dieppe, Alistair - 2013

The onset of the financial crisis in 2008 has highlighted the problems of diverging external imbalances within Economic and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of the competitiveness factors which contributed to...

Persistent link: https://www.econbiz.de/10013089688

Exchange Rate Pass-Through in the Euro Area and EU Countries

Ortega, Eva - 2020

Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in …

Persistent link: https://www.econbiz.de/10012836179

The Impact of Global Value Chains on the Euro Area Economy

Dorrucci, Ettore - 2019

The studies summarised in this paper focus on the economic implications of euro area firms' participation in global value chains (GVCs). They show how, and to what extent, a large set of economic variables and interlinkages have been affected by international production sharing. The core...

Persistent link: https://www.econbiz.de/10012871299

Low Inflation in the Euro Area : Causes and Consequences

Ciccarelli, Matteo - 2017

After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the causes and consequences of low inflation in the...

Persistent link: https://www.econbiz.de/10012963903

Digitalisation : Channels, Impacts and Implications for Monetary Policy in the Euro Area

Consolo, Agostino; Cette, Gilbert; Bergeaud, Antonin; … - 2021

The digitalisation workstream report analyses the degree of digital adoption across the euro area and EU countries and … of digital adoption differs across the euro area/EU, implying heterogeneous impacts, with most EU economies currently …. The pandemic has accelerated the use of teleworking: roughly every third job in the euro area/EU is teleworkable, although …

Persistent link: https://www.econbiz.de/10013210842

Understanding Low Inflation in the Euro Area from 2013 to 2019 : Cyclical and Structural Drivers

Koester, Gerrit; Lis, Eliza; Nickel, Christiane; Osbat, … - 2021

From 2013 up to the launch of the ECB’s strategy review in January 2020, inflation in the euro area was low and over-predicted. This low inflation during the years 2013-19 can be attributed to a combination of interconnected factors. Cyclical developments account for a substantial share of the...

Persistent link: https://www.econbiz.de/10013210844

Inflation Measurement and its Assessment in the Ecb's Monetary Policy Strategy Review

Nickel, Christiane; Fröhling, Annette; Willeke, Caroline; … - 2021

This paper – which takes into consideration overall experience with the Harmonised Index of Consumer Prices (HICP) as well as the improvements made to this measure of inflation since 2003 – finds that the HICP continues to fulfil the prerequisites for the index underlying the ECB’s...

Persistent link: https://www.econbiz.de/10013210846

The Implications of Globalisation for the ECB Monetary Policy Strategy

Lodge, David; Everett, Mary; Bandt, Olivier de; … - 2021

This paper assesses how globalisation has shaped the economic environment in which the ECB operates and discusses whether this warrants adjustments to the monetary policy strategy. The paper first looks at how trade and financial integration have evolved since the last strategy review in 2003....

Persistent link: https://www.econbiz.de/10013210849