Mauro, Filippo di; Rueffer, Rasmus; Bunda, Irina - European Central Bank - 2008
between exchange rates and prices, showing that there is at most a moderate decline in exchange rate pass-through for the euro … area. Next, it turns to the effect of exchange rate changes on trade flows. The findings indicate that the responsiveness … of euro area exports to exchange rate changes may have declined somewhat as a result of globalisation, reflecting mainly …