-price competitiveness effects contributed largely to the trade surplus in some countries, for some southern European countries the trade … countries’ composition of trade could lead to heterogeneity in the potential gains from improvements in competitiveness. … and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of …

-price competitiveness effects contributed largely to the trade surplus in some countries, for some southern European countries the trade … countries’ composition of trade could lead to heterogeneity in the potential gains from improvements in competitiveness. JEL … and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of …

the results of variant monetary policy simulations at the euro-area level using the AWM and NiGEM models …

the results of variant monetary policy simulations at the euro-area level using the AWM and NiGEM models JEL …

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 … competitiveness. It finds that the euro area was hit particularly hard by the contraction in global demand. Moreover, the collapse in …