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