The paper proposes a modelling approach for euro area goods and services trade volumes and prices on the basis of a …) to euro area import prices. The second issue relates to substitution effects between intra- and extra-area trade. These … the impact of external and domestic shocks to trade in the euro area, in particular on intra- and extra-area trade. The …

and the terms of trade, on the euro area real economy. In particular, the paper estimates the quantitative impact that … HICP, we found that the exchange rate pass-through for the euro area is not very high. This result is broadly in line with …

different price stages in the euro area. The overall results are roughly in line with the literature and provide insight into … of euro area prices. -- Pass-through ; producer prices ; consumer prices ; commodity prices ; exchange rate …