imports, trade, productivity Countries covered CEE, SEE Topics Macroeconomic Analysis and Policy The central bank as hedge …Patterns of new member states’ international trade in intermediate products (by Robert Stehrer; pp. 1-6) Keywords … intermediate products, international trade Countries covered New EU Member States Topics International Trade, Competitiveness and …

Graph of the month Share of foreign value added in the exports of selected countries Opinion corner What might be the … economic consequences of a potential territorial break-up of Ukraine? (by Vasily Astrov) Trade integration, vertical … specialisation and employment growth in the new Member States (by Sandra Leitner and Robert Stehrer) Trade in jobs a counterfactual …