The paper analyzes the sources of exchange rate movements in emerging economies in the context of monetary tapering by the Federal Reserve. A structural vector autoregression framework with a long-run restriction is used to decompose the movements of nominal ex-change rates into two components:...

The European automotive industry is the second largest manufacturer of motor vehicles worldwide (after China) and generates directly and indirectly millions of jobs EU-wide. It is characterized by a high degree of export orientation and the largest share of exports can be ascribed to the US...

The paper represents a new reading of the traditional Ricardian theory of comparative advantages to tackle current challenges of environmental and climate policy. In the style of David Ricardo, it demonstrates that international trade is a positive-sum game in a twogoods, two-countries world...

A changing landscape in trade policy in recent years is undoubtedly related to changing voter preferences. Based on Eurobarometer survey data, the present paper investigates both the factors determining the level of support for protectionism and the striking inconsistency of responses to...

The purchasing power of EU consumers varies considerably. This is also reflected by the structure of households’ expenditure. The share of food in consumer spending is highest in Romania, one of the countries with the lowest per capita income. On the other hand, the top earner, Luxembourg, has...

Structural change is both a challenge and an opportunity for countries and companies. However, there is no silver bullet in terms of superior economic models. Instead, different economic models can deal with structural change in a successful way. Both economies with a focus on services and those...