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

Alberto Felettigh (), Claire Giordano (), Giacomo Oddo () and Valentina Romano
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Valentina Romano: Banca d'Italia, Postal: Directorate General for Economics, Statistics and Research, Banca d'Italia, Via Nazionale, Roma, Italy

Journal of Economic and Social Measurement, 2016, issue 3, 203-235

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.

Keywords: Real effective exchange rates; price competitiveness; producer prices; local producers competition; double weighting (search for similar items in EconPapers)
JEL-codes: A13 (search for similar items in EconPapers)
Date: 2016
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Working Paper: Reassessing Price-Competitiveness Indicators of the Four Largest Euro-Area Countries and of their Main Trading Partners (2015) Downloads
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