Euro area exports and imports: Do determinants of intra- and extra-EMU trade differ?
The attempt is to explain EMU exports and imports, treating the euro area as one single economy. EMU trade is analysed separately for intra- and extra-EMU trade. One result of this approach is that extra- and intra-EMU trade seem to follow a different pattern. Therefore, a separate estimation seems preferable. This is especially true for exports. For imports, the mistake made seems to be smaller. Interestingly, the aggregate of intra- and extra-EMU trade seems to be dominated by the pattern of extra-EMU trade, although both sub-aggregates are of a similar size: Estimation equations for aggregate EMU exports are quite similar to those for extra-EMU exports and the equations for aggregate EMU imports resemble those for extra-EMU imports.
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- Anderton, Robert, 2003. "Extra-euro area manufacturing import prices and exchange rate pass-through," Working Paper Series 0219, European Central Bank.
- Fagan, Gabriel & Henry, Jérôme & Mestre, Ricardo, 2001. "An area-wide model (AWM) for the euro area," Working Paper Series 0042, European Central Bank.
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"Macroeconomic forecasting in the Euro area: Country specific versus area-wide information,"
European Economic Review,
Elsevier, vol. 47(1), pages 1-18, February.
- Massimiliano Marcellino & James H. Stock & Mark W. Watson, . "Macroeconomic Forecasting in the Euro Area: Country Specific versus Area-Wide Information," Working Papers 201, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Sawyer, W. Charles & Sprinkle, Richard L., 1997. "The Demand for Imports and Exports in Japan: A Survey," Journal of the Japanese and International Economies, Elsevier, vol. 11(2), pages 247-259, June.
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- Robert Anderton & Badi H. Baltagi & Frauke Skudelny & Nuno Sousa, 2007.
"Intra- and Extra-Euro Area Import Demand for Manufactures,"
Applied Economics Quarterly (formerly: Konjunkturpolitik),
Duncker & Humblot, Berlin, vol. 53(3), pages 221-241.
- Anderton, Robert & Baltagi, Badi H. & Skudelny, Frauke & Sousa, Nuno, 2005. "Intra- and extra-euro area import demand for manufactures," Working Paper Series 0532, European Central Bank.
- Ursel Baumann & Filippo di Mauro, 2007. "Globalisation and euro area trade: Interactions and challenges," Occasional Paper Series 55, European Central Bank.
- Ca' Zorzi, Michele & Schnatz, Bernd, 2007. "Explaining and forecasting euro area exports: which competitiveness indicator performs best?," Working Paper Series 0833, European Central Bank.
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