The impact of global value chains on the euro area economy
Konstantins Benkovskis (),
François de Soyres,
Benedetta Di Lupidio,
Alex Tagliabracci (),
Julia Wörz and
No 221, Occasional Paper Series from European Central Bank
The studies summarised in this paper focus on the economic implications of euro area firms’ participation in global value chains (GVCs). They show how, and to what extent, a large set of economic variables and inter-linkages have been affected by international production sharing. The core conclusion is that GVC participation has major implications for the euro area economy. Consequently, there is a case for making adjustments to standard macroeconomic analysis and forecasting for the euro area, taking due account of data availability and constraints. JEL Classification: F6, F10, F14, F16, E3
Keywords: euro area; global value chains; international interlinkages; international trade; vertical specialisation (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2019221
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