Every day, companies are exposed to various risks arising from their environment, and small and medium enterprises (SMEs) are the most affected. This study emphasizes innovation and resilience as the starting points to understand how SMEs are influenced by external factors which are independent...

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...