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New indicators to assess price-competitiveness developments in the four largest euro-area countries and in their main trading partners

Author

Listed:
  • Alberto Felettigh

    (Banca d'Italia)

  • Claire Giordano

    (Banca d'Italia)

  • Giacomo Oddo

    (Banca d'Italia)

  • Valentina Romano

    (Banca d'Italia)

Abstract

This paper provides a new set of monthly price-competitiveness indicators for 62 countries, which are to be adopted by the Bank of Italy as its new official indicators. We employ updated trade weights that take into account the highly relevant competitive pressures of local producers in all outlet markets while guaranteeing a vast geographical coverage in international standards. We also assess price competitiveness with respective to different sub-groups of trading partners, namely euro-area vs. non euro-area countries. Focusing on the four largest economies in the euro area, in the period 1999-2014 Germany and France's price competitiveness is found to have improved; it was roughly stable in Italy whereas it deteriorated in Spain.

Suggested Citation

  • Alberto Felettigh & Claire Giordano & Giacomo Oddo & Valentina Romano, 2016. "New indicators to assess price-competitiveness developments in the four largest euro-area countries and in their main trading partners," Journal of Economic and Social Measurement, IOS Press, issue 3, pages 203-235.
    • Handle: RePEc:ris:iosjes:0056
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    Cited by:

    1. Alberto Felettigh & Claire Giordano, 2018. "Rethinking prices and markets underlying price-competitiveness indicators," Questioni di Economia e Finanza (Occasional Papers) 447, Bank of Italy, Economic Research and International Relations Area.
    2. Silvia Fabiani & Alberto Felettigh & Claire Giordano & Roberto Torrini, 2019. "Making room for new competitors. A comparative perspective on Italy’s exports in the euro-area market," Questioni di Economia e Finanza (Occasional Papers) 530, Bank of Italy, Economic Research and International Relations Area.
    3. Matteo Bugamelli & Silvia Fabiani & Stefano Federico & Alberto Felettigh & Claire Giordano & Andrea Linarello, 2018. "Back on Track? A Macro–Micro Narrative of Italian Exports," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 4(1), pages 1-31, March.
    4. Guido Bulligan & Fabio Busetti & Michele Caivano & Pietro Cova & Davide Fantino & Alberto Locarno & Lisa Rodano, 2017. "The Bank of Italy econometric model: an update of the main equations and model elasticities," Temi di discussione (Economic working papers) 1130, Bank of Italy, Economic Research and International Relations Area.
    5. Michael Fidora & Claire Giordano & Martin Schmitz, 2021. "Real Exchange Rate Misalignments in the Euro Area," Open Economies Review, Springer, vol. 32(1), pages 71-107, February.
    6. Gloria Allione & Stefano Federico & Claire Giordano, 2025. "The resilience of Italy's external sector amidst risks and challenges," Questioni di Economia e Finanza (Occasional Papers) 981, Bank of Italy, Economic Research and International Relations Area.
    7. Andrea Ginzburg & Annamaria Simonazzi, 2017. "Out of the Crisis. A radical change of strategy for the Eurozone," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 14(1), pages 13-37, June.

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    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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