The External Dimension of the Euro Area

Review of the hardback: 'Policymakers and researchers who care about the nature of external influences on the Euro Area will find this book invaluable both for the topics covered as well as for the range of state-of-the-art methodologies applied. It should be read not only by policymakers and researchers in Europe but also more widely, since the influences and the methodologies that can be used to understand these global linkages are relevant and applicable to all countries.' Warwick J. McKibbin, Professor of International Economics, Australian National University and Professorial Fellow, The Lowy Institute for International Policy and Senior Fellow, The Brookings Institution

• Preface Filippo di Mauro and Robert Anderton; 1. Introduction Filippo di Mauro and Robert Anderton; 2. The external dimension of the Euro area: stylised facts and initial findings Filippo di Mauro and Robert Anderton; 3. Product variety and macro trade models: implications for EU Accession Countries Joseph Gagnon; 4. Exchange-rate pass-through to import prices in the Euro area José Manuel Campa, Linda S. Goldberg and José M. Gonzaléz-Mínguez; 5. The international equity holdings of Euro area investors Philip R. Lane and Gian Maria Milesi-Ferretti; 6. Global linkages through foreign direct investment W. Jos Jansen and Ad C. J. Stokman; 7. Shocks and shock absorbers: the international propagation of equity market shocks and the design of appropriate policy responses Ray Barrel and E. Philip Davis; 8. The Euro area in the global economy: its sensitivity to the international environment and its influence on global developments Alessandro Calza and Stephane Dees; Index.