Quarterly Report on the Euro Area (QREA), Vol. 22, No. 2 (2023) (20/07/2023)
This edition analyses the impact of increasing commodity prices, with a particular focus on energy prices, from three different angles. First, it studies inflation divergence in the euro area inflation, driven by the external shocks but also by internal factors. Second, it discusses the factors driving pass-through of wholesale energy prices to the retail market and how it has diverged across euro area countries. Finally, the issue discusses the impact of the increase in energy costs on firm’s profitability.
European Business Cycle Indicators – A new survey-based labour hoarding indicator. 2nd Quarter 2023 (20/07/2023)
This paper provides a quarterly analysis of developments over the last three months of the joint harmonised EU business and consumer surveys (BCS). In addition, it includes a special topic on a new labour hoarding indicator developed by the Commission to more accurately track labour market performance over the cycle.
The Fiscal Effects of Terms-of-Trade-Driven Inflation (12/07/2023)
This paper presents simulations with the Commission’s QUEST model to examine whether rising inflation stemming from a terms-of-trade deterioration could reduce public debt-to-GDP ratios.
Domestic Medium-Term Budgetary Frameworks in the EU: Fit for Purpose and for the Future? (11/07/2023)
This discussion paper presents key findings on the implementation and functioning of MTBFs in the EU over the last decade and on identified past and future challenges.
The Development of Renewable Energy in the Electricity Market (22/06/2023)
This paper studies renewable electricity: its development in the past and in the future, public support schemes, alternative purchasing arrangements and its future competitiveness.
Macrofinancial Dynamics in a Monetary Union (22/06/2023)
This paper presents a new macrofinancial general equilibrium model of the euro area economy.
