Euro Area Policies: Selected Issues

International Monetary Fund

No 2003/298, IMF Staff Country Reports from International Monetary Fund

Abstract: An important aim of this paper is to take shifts in the long-term anchor in the empirical specifications. The study examines exchange-rate pass-through and external adjustment in the euro area. The impact on third-country trade and investment is also discussed. A better understanding of the economic behavior underlying limited pass-through is an important consideration for investigating the implications of currency fluctuations and the pattern of external adjustment. The impulse-response patterns suggest a high degree of local currency pricing in import prices and producer currency pricing in export prices.

Keywords: ISCR; CR; price; euro area; inflation expectation; EU enlargement; supply and demand demand shock; pension spending-GDP ratio; Inflation; Pension spending; Aging; Pensions; Pension reform; Europe; Global; Eastern Europe (search for similar items in EconPapers)
Pages: 109
Date: 2003-09-16
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