The impact of global value chains on the euro area economy

Vanessa Gunnella (), Alexander Al-Haschimi, Konstantins Benkovskis, Francesco Chiacchio, François de Soyres, Benedetta Di Lupidio, Michael Fidora, Sebastian Franco-Bedoya, Erik Frohm, Katerina Gradeva, Paloma Lopez-Garcia, Gerrit Koester, Christiane Nickel, Chiara Osbat, Elena Pavlova, Martin Schmitz, Joachim Schroth, Frauke Skudelny, Alex Tagliabracci, Elena Vaccarino, Julia Wörz and Ettore Dorrucci
Authors registered in the RePEc Author Service: Julia Maria Woerz ()

No 221, Occasional Paper Series from European Central Bank

Abstract: 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)
Date: 2019-04
New Economics Papers: this item is included in nep-eec, nep-int and nep-opm
Note: 2700331
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2019221

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