The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe...

The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard-the economic contraction in 2020 is estimated to have been among the largest in the world-with potentially severe repercussions...

We offer a general equilibrium analysis of Brexit incorporating the state-of-the-art differences in productivity and firms' selection within manufacturing sectors à la Melitz (2003) and multinationals in services. Trade, output and average productivity diminish across most sectors in the UK and...

We offer a comprehensive general equilibrium analysis of the EU-Mercosur agreement considering tariffs, quotas, non-tariff measures in goods and services, as well as a usually neglected component, namely, government procurement. We use the well-known GTAP model and cover the results for 36...

Recent technological changes have altered the way in which interactions take place between economic agents. One of the main advances is the possibility to broadly disseminate information at very low cost. E-commerce is a significant part of this change, becoming increasingly important within the...

We document the importance of import prices and domestic profits as a counterpart to the recent increase in euro area inflation. Through a novel consumption deflator decomposition, we show that import prices account for 40 percent of the average change in the consumption deflator over 2022Q1 –...