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How competitiveness shocks affect macroeconomic performance across euro area countries

Staehr, Karsten, Vermeulen, Robert, (2016), “How competitiveness shocks affect macroeconomic performance across euro area countries “, European Central Bank, Working Paper Series 1940, Ιούλιος

This paper contributes to the literature by empirically assessing the short-term effects of changes in competitiveness on broader macroeconomic performance, including GDP, credit growth and the current account balance. The shorter-term effects are the most immediate and noticeable effects of changes in competitiveness and they may therefore be of importance for the acceptance of policies to improve competitiveness.

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