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Understanding the impact of the external dimension on the euro area: trade, capital flows and other international macroeconomic linkages

Author

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  • Anderton, Robert
  • di Mauro, Filippo
  • Moneta, Fabio

Abstract

Overall, the paper underlines the difficulties in spelling out the transmission and the final effects of external shocks on the euro area, and highlights the complexity of the various direct and indirect mechanisms. We describe the main channels by which potential spillovers from external economic shocks may affect the euro area. Although the evidence is unclear on the extent to which the synchronisation of international cycles may have changed, the conclusion of the paper is that the JEL Classification: E, F

Suggested Citation

  • Anderton, Robert & di Mauro, Filippo & Moneta, Fabio, 2004. "Understanding the impact of the external dimension on the euro area: trade, capital flows and other international macroeconomic linkages," Occasional Paper Series 12, European Central Bank.
    • Handle: RePEc:ecb:ecbops:200412
    Note: 339014
    as

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    File URL: https://www.ecb.europa.eu//pub/pdf/scpops/ecbocp12.pdf
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    References listed on IDEAS

    as
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