(GCESC). Model-based simulations suggest two key policy implications: First, as a reflection of strengthening trade linkages … relatively small. This is explained by the supply chain nature of trade integration: final demand in Germany is not necessarily … the main determinant of CE4 exports to Germany. Second, increased trade openness in both Germany and the CE4 implies a …

This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected … euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area … different specialization patterns. This raises the question of the distribution of gains and losses from external trade shocks …

highlights the need for country-specific policy priorities. Services trade, which is subject to significant non-tariff barriers …

. An interaction term of potential trade costs after exiting the EU and a measure of firms' participation in global trade … is used as a proxy for firm-level exposure to Brexit-related effects. The results suggest that potential trade costs have …

In Italy, price-based competitiveness measures are not always an accurate predictor of trade outcomes. This paper …

factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but … are incomplete. We uncover a large impact of declines in export competitiveness and asymmetric trade developments vis …

expenditures with terms of trade in oil exporting countries, and (ii) improve non-resource primary balances in all RRC, especially … during terms of trade upturns. The rules’ design matters. Addressing the procyclicality of public expenditures with terms-of-trade …