The ECB’s enhanced effective exchange rate measures

Michael Fidora and Martin Schmitz

Economic Bulletin Boxes, 2020, vol. 6

Abstract: This box introduces the ECB’s enhanced effective exchange rates (EERs) and harmonised competitiveness indicators (HCIs). It presents the new methodology for calculating the underlying weighting scheme, which is based not solely on trade in manufactured goods but now also on trade in services. The inclusion of services trade reflects its growing importance in the light of globalisation and digitalisation and has become possible thanks to increased availability of data. JEL Classification: F10, F30, F31, F40

Keywords: competitiveness; Effective exchange rates (search for similar items in EconPapers)
Date: 2020-09
Note: 491968
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2020:0006:2

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