The role of internal devaluation in correcting external deficits: The case of Spain

Villanueva, Paloma; Rey, Luis Cárdenas del; Uxó, Jorge; Álvarez, Ignacio

doi:10.1016/j.strueco.2020.03.008

Cited by 17 publications

(10 citation statements)

References 13 publications

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“…Note that magnitudes are very similar here as in the case of exports. This result is again in line with Villanueva et al (2018) who estimated that price elasticity of imports was 0.25% in Spain (for a unit change in domestic/import price ratio). Villanueva et al (2018) therefore assert that the bulk of import reduction followed from collapsing aggregate demand, and not domestic substitution.…”

Section: Prices and The "Import Substitution Effect"supporting

confidence: 90%

“…The effect size is similar to what was found by Villanueva et al (2018) in case of Spanish exports between 2010 and 2017 (+0.36% volume increase in exports for 1% decrease in export prices). However, when it comes to the key idea of macro level output smoothing, these magnitudes could produce meaningful results only in case of uncommonly vast price movements, coming preferably in one step.…”

Section: Prices and The "Export Competitiveness Effect"supporting

confidence: 86%

“…These immediate recessionary effects and vicious circles have prompted research to evaluate the outcome of the recent internal devaluation efforts of some eurozone members. Examples include Anastasatos 2011, 2013;Uxó et al 2014;Kersan-Škabić 2016;Villanueva et al 2018). Most of them are understandably concerned with austerity measures forced by EU-IMF creditors as a no-other-way policy.…”

Section: Risk Mitigation By Price Adjustment?mentioning

confidence: 99%

“…This is because the overall market share of a particular exporter can still increase even if there is no change in its shares in any submarkets, but its exports are concentrated on products selling better than the growth of total demand. Uxó et al (2014) and Villanueva et al (2018) separate the impacts of demand and price-induced substitution by controlling for both in model equations.…”

Section: Detecting "True" Trade Performancementioning

confidence: 99%

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ECMS 2019 Proceedings edited by Mauro Iacono, Francesco Palmieri, Marco Gribaudo, Massimo Ficco

2019

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The 33rd edition of the ECMS conference, a widely consolidated interdisciplinary forum for simulation and modeling researchers and practitioners that keeps its reference position year after year, brings with it two novelties: a new name and a new form of publication. In fact, to better catch in the name the actual situation of participants, the European Council for Modelling and Simulation decided to rename the event as "ECMS International Conference on Modelling and Simulation". This year, we also start a new book series of annual volumes, namely "Communications of the ECMS", which replaces the name "Proceedings" in order to acknowledge the recognition and reputation of the scientific community of simulation. This year the chosen conference venue is in Caserta, Italy. The Università degli Studi della Campania "Luigi Vanvitelli", previously known as Seconda Università degli Studi di Napoli, a state-owned university founded in 1990 with the explicit mission of meeting the cultural demand of the population living in the northern part of Campania. Caserta, famous for its wonderful royal palace, whose facilities will host the conference, is a city with a long history, already inhabited in the 5th century BC. It flourished in the middle age and then in the XVI-XVII century AD, surrounded by a geographical area rich of historical relevance that was under Roman influence.The university is characterized by its diffusion over the territory of the province of Caserta, having its 16 departments located in Caserta, Aversa and Santa Maria Capua Vetere, and Napoli, in which its roots can be found: the most of the departments are located in historical landmarks, that have been saved and recovered by specific agreements and funding. More than 25000 students from Italy and abroad study at Vanvitelli University enrolled in bachelor, master and PhD. curricula, taught as well in Italian as in English, and covering different aspects of mathematics, physics, data analytics, engineering, law, economics, political sciences, medicine, nursery, biotechnology, pharmacy, environmental sciences, cultural heritage, literature, psychology, tourism, design and architecture.We are honored to offer, besides the scientific program of the conference, consisting in more than 65 high quality accepted papers, a rich and various series of social events, as usual for the spirit of this conference.

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Section: Prices and The "Import Substitution Effect"supporting

confidence: 90%

Section: Prices and The "Export Competitiveness Effect"supporting

confidence: 86%

Section: Risk Mitigation By Price Adjustment?mentioning

confidence: 99%

Section: Detecting "True" Trade Performancementioning

confidence: 99%

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ECMS 2019 Proceedings edited by Mauro Iacono, Francesco Palmieri, Marco Gribaudo, Massimo Ficco

2019

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“…13 Por el contrario, durante los años previos a la crisis, en los países del centro se produjo exactamente el comportamiento opuesto, a saber, fuertes y crecientes superávits por cuenta corriente. Por otro lado, en los años posteriores a la crisis los abultados déficits por cuenta corriente de los países periféricos se han corregido, si bien hay suficiente evidencia de que esto ha sido por el desplome de la actividad económica y de la demanda en particular, y no por un cambio estructural que haya implicado dinámicas diferentes de las cuentas corrientes (Villanueva, Cárdenas, Uxó y Álvarez, 2020;Canofari, Esposito, Messori y Milani, 2015).…”

Section: Desequilibrios Por Cuenta Corriente En La Unión Europeaunclassified

Las relaciones centro-periferia en la Unión Europea después de la covid

Espinosa

2022

ETE

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La pandemia ha provocado en la Unión Europea la mayor caída del producto interno bruto (PIB) per cápita de su historia. La respuesta de las autoridades comunitarias ha sido excepcional y se ha puesto en marcha un fondo de recuperación de 700 000 millones de euros. ¿Estamos ante un programa de inversiones para recuperar la senda de crecimiento previa a la pandemia o es también una oportunidad para corregir las desigualdades estructurales que arrastran la Unión Europea y la zona del euro agravadas tras la última crisis financiera? En este texto argumentamos que el segundo objetivo es el deseable y que sólo se conseguirá si los recursos están dirigidos por una estrategia de política industrial moderna que permita a los países de la periferia mejorar la intensidad tecnológica de sus estructuras productivas.

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