Journal
SOCIAL SCIENCE JOURNAL
Volume 56, Issue 1, Pages 88-93Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.soscij.2018.05.006
Keywords
Internal devaluation; Crisis exit strategy; Spanish economic governance; Results of empirical studies; Tailwinds
Categories
Funding
- UPV/EHU PPGA [18/07]
- Econometrics Research Group (Basque Government Department of Education) [IT-642-13]
- Spanish Ministry of Economy, Industry and Competitiveness
- FEDER [ECO2016-76203-C2-1-P]
Ask authors/readers for more resources
In line with the orientation of EU economic policy, the Spanish government has favoured a strategy of internal devaluation as a way of adjusting price levels within the currency union. The results of empirical studies indicate that the internal devaluation applied in Spain does not seem to have attained the desired goals in terms of reducing the relative prices of exports and consolidating a model of growth based on external demand. Indeed, the estimates drawn up show that tailwinds - the depreciation of the euro and the fall in risk premium as results of the measures taken by the ECB, greater economic activity by trading partners and the fall in the price of oil - exercised a decisive influence in the trends followed by the prices of exports and the balance of trade during the period of crisis management in Spain. (C) 2018 Western Social Science Association. Published by Elsevier Inc. All rights reserved.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available