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Foreign Trade Benefits from International Upswing and Weak Euro


  • Marcus Scheiblecker



The persistent weakness of the euro and the excellent performance of the world economy have resulted in an export boom in Austria and the euro zone. However, given the low exchange rate and the high crude oil prices, the value of Austrian imports increased even more strongly, which contributed towards a significant deterioration of the balance on current account in the first half of 2000. The domestic economy is growing vigorously, but enterprise surveys do not suggest a further acceleration of growth in the near future. Despite the satisfactory level of economic activity, the seasonally adjusted number of employees did not further increase in August. The seasonally adjusted unemployment rate, however, continued to decline slightly.

Suggested Citation

  • Marcus Scheiblecker, 2000. "Foreign Trade Benefits from International Upswing and Weak Euro," WIFO Monatsberichte (monthly reports), WIFO, vol. 73(9), pages 539-540, September.
  • Handle: RePEc:wfo:monber:y:2000:i:9:p:539-540

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    References listed on IDEAS

    1. Giovannini, Alberto, 1988. "Exchange rates and traded goods prices," Journal of International Economics, Elsevier, vol. 24(1-2), pages 45-68, February.
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    6. Jorion, Philippe & Sweeney, Richard J., 1996. "Mean reversion in real exchange rates: evidence and implications for forecasting," Journal of International Money and Finance, Elsevier, vol. 15(4), pages 535-550, August.
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    8. Maurice Obstfeld & Kenneth Rogoff, 2001. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," NBER Chapters,in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412 National Bureau of Economic Research, Inc.
    9. Thomas Klitgaard, 1999. "Exchange rates and profit margins: the case of Japanese exporters," Economic Policy Review, Federal Reserve Bank of New York, issue Apr, pages 41-54.
    10. Lothian, James R., 1998. "Some new stylized facts of floating exchange rates," Journal of International Money and Finance, Elsevier, vol. 17(1), pages 29-39, February.
    11. Stephan Schulmeister, 2000. "Globalization without Global Money: The Double Role of the Dollar as National Currency and World Currency," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 22(3), pages 365-395, March.
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