The External Dimension of the Euro Area: Assessing the Linkages

by Edited by Filippo di Mauro , Robert Anderton

• ISBN13: 9780521867009
• ISBN10: 0521867002
• Format: Hardcover
• Copyright: 2007-05-07
• Publisher: Cambridge University Press

Summary

Although still relatively closed, the euro area economy is nevertheless subject to a broad range of economic impacts originating from outside its borders. This book aims to improve our understanding of how, and to what extent, such external developments affect the euro area. Using a broad range of methodologies and techniques, the chapters analyse the various channels that connect the euro area to its external environment; most notably trade, capital flows and other international macroeconomic linkages. The result is that the interaction between the euro area and its 'external dimension' is shown to be more complex and extensive than had previously been thought. With contributions from both academics and professionals, this volume will be an invaluable source of information for researchers and policy-makers concerned with the interaction between regional European integration and globalization.

Table of Contents

Preface

Introduction

The external dimension of the euro area: stylised facts and initial findings

Product variety and macro trade models: implications for EU Accession Countries

Exchange-rate pass-through to import prices in the euro area

The international equity holdings of euro area investors

Global linkages through foreign direct investment

Shocks and shock absorbers: the international propagation of equity market shocks and the design of appropriate policy responses

The euro area in the global economy: its sensitivity to the international environment and its influence on global developments

Index

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