scholarly journals Regional Inflation Dynamics within and Across Euro Area Countries and a Comparison with the Us

2006 ◽  
Author(s):  
Kirstin Hubrich ◽  
Massimiliano Marcellino ◽  
Günter W. Beck
Keyword(s):  
Euro Area ◽  
Inflation Dynamics ◽  
The Us

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

The international strength of the euro will grow

2021 ◽  
Keyword(s):  
Euro Area ◽  
Financial Services ◽  
Raw Materials ◽  
Domestic Demand ◽  
Content Type ◽  
The Us ◽  
Us Dollar ◽  
Strategic Autonomy ◽  
Geopolitical Risks ◽  
The Eu

Significance The proposals identified areas where the euro could potentially become more dominant, such as the issuance of green bonds, digital currencies, and international trade in raw materials and energy. Ambitions to enhance the international leverage of the euro are being driven by the aim to strengthen EU strategic autonomy amid rising geopolitical risks. Impacts Developing its digital finance sector would be an opportunity for the EU to enhance its strategic autonomy in financial services. Challenging the US dollar would require the euro-area to rebalance its economy away from foreign to domestic demand. Member state division will prevent the economic reconfiguration the euro-area needed to make the euro a truly global currency.

scholarly journals Uncertainty and employment dynamics in the euro area and the US

2017 ◽  
Vol 51 ◽  
pp. 48-62 ◽  
Author(s):  
Aleksei Netšunajev ◽  
Katharina Glass
Keyword(s):  
Euro Area ◽  
Employment Dynamics ◽  
The Us

scholarly journals The post-crisis slump in the Euro Area and the US: Evidence from an estimated three-region DSGE model

2016 ◽  
Vol 88 ◽  
pp. 21-41 ◽  
Author(s):  
Robert Kollmann ◽  
Beatrice Pataracchia ◽  
Rafal Raciborski ◽  
Marco Ratto ◽  
Werner Roeger ◽  
...  
Keyword(s):  
Euro Area ◽  
Dsge Model ◽  
The Us

Even gradual quantitative tightening raises GDP risks

2019 ◽  
Keyword(s):  
Euro Area ◽  
Commercial Banks ◽  
Large Scale ◽  
Sales Tax ◽  
Quantitative Easing ◽  
Content Type ◽  
Balance Sheets ◽  
Liquidity Provision ◽  
The Us ◽  
Repurchase Agreements

Subject Quantitative easing and GDP. Significance The US Federal Reserve (Fed), Bank of Japan (BoJ) and ECB have all conducted quantitative easing (QE) programmes since 2008, purchasing assets from commercial banks on a large scale and without predefined repurchase agreements. These purchases have swollen the balance sheets of the three largest central banks and provided commercial banks with large liquidity buffers. Impacts The pace of the Fed withdrawing liquidity may slow; if US-China conflict worsens or another shock occurs, the Fed may consider reversing. In the euro-area, there are no new liquidity provisions, at a time when German GDP is weakening and Brexit threatens EU growth. New liquidity-provision plans may be hard for the euro-area to agree; if this is off the table, so are liquidity-withdrawing measures. The BoJ may stop scaling back its bond and ETF holdings if markets suffer; the upcoming sales tax rise will also hit spending.

An Analysis of EU Growth Trends, with a Particular Focus on Germany, France, Italy and the UK

2007 ◽  
Vol 199 ◽  
pp. 82-98 ◽  
Author(s):  
Kieran McMorrow ◽  
Werner Roger
Keyword(s):  
Growth Rate ◽  
Euro Area ◽  
Potential Growth ◽  
Individual Country ◽  
Reform Agenda ◽  
Current Trends ◽  
Time Period ◽  
The Us ◽  
Good Individual ◽  
The Uk

Since the mid-1990s the growth performance of the Euro Area as a whole, despite some good individual country performances, has failed to keep pace with developments elsewhere in the EU (including the UK) and also in the US. This is especially the case for a number of the larger Euro Area economies. Despite an encouraging performance in terms of its labour input trends, there has been a significant, offsetting, deterioration in the Euro Area's underlying productivity performance. This is driven in large part, worryingly, by a marked downward shift in the growth rate of total factor productivity. Looking to the future, no significant recovery is predicted in the Euro Area's underlying economic performance over the period 2007–11. While the policy challenge is a serious one, the Euro Area as a whole can take comfort from the fact that the gains from a successful refocusing of its overall reform agenda could be considerable. For example, the progressive introduction of the five key measures linked to the Lisbon strategy (i.e. the services directive; reduction of the administrative burden; improving human capital; 3 per cent R&D target; and increases in the employment rate) could boost the Euro Area's economic and employment growth rates by more than ½ a percentage point annually for more than a decade. Such an outturn would give the Euro Area a potential growth rate of around 2½ per cent, a rate of growth which in per capita terms would be broadly comparable to that of the US over the 2007–15 time period and, on the basis of current trends and policies, slightly better than that of the UK.

At a Glance … The world economy

2012 ◽  
Vol 222 ◽  
pp. F2-F2
Keyword(s):  
Euro Area ◽  
World Economy ◽  
List Type ◽  
Advanced Economies ◽  
The Us ◽  
The World ◽  
Depression Era ◽  
The Impact ◽  
India And China

World growth is expected to remain below trend at 3.1 per cent in 2012 and 3.4 per cent in 2013.The Euro Area is forecast to contract by 0.5 per cent this year and grow only marginally next year with unemployment reaching ‘depression-era’ rates in some periphery economies. The US is likely to grow by 2 per cent in each year.Growth in Brazil, Russia, India and China will be below long-term potential next year, although ‘hard-landings’ will be avoided; the impact on advanced economies will be offset by a large gain in competitiveness.Debt to GDP ratios in OECD countries will, on average, be higher in 2014 than at present.

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