Understanding the impact of the external dimension on the euro area: trade, capital flows and other international macroeconomic linkages
Filippo di Mauro () and
No 12, Occasional Paper Series from European Central Bank
Overall, the paper underlines the difficulties in spelling out the transmission and the final effects of external shocks on the euro area, and highlights the complexity of the various direct and indirect mechanisms. We describe the main channels by which potential spillovers from external economic shocks may affect the euro area. Although the evidence is unclear on the extent to which the synchronisation of international cycles may have changed, the conclusion of the paper is that the JEL Classification: E, F
Keywords: capital flows; euro area; international trade (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:200412
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