di Mauro, Filippo; Forster, Katrin; Lima, Ana - 2010
World trade contracted sharply in late 2008 and early 2009 following the deepening of the financial crisis in September … 2008. This paper discusses the main mechanisms behind the global downturn in trade and its impact on euro area exports and … recorded losses in productivity during this period. Going forward, the recovery in world trade will depend mainly on a …