Our new paper on distance(s) and the volatility of international trade(s) is now published in the European Economic Review. Check it out ⬇️ sciencedirect.com/science/articl… Arnaud Mehl European Central Bank Martin Schmitz European Central Bank @CedricTill4402 Geneva Graduate Institute

How did the euro area current account balance evolve in April? And how does it compare with the same month a year earlier? Find out more in the press release ecb.europa.eu/press/stats/bo…

The ECB biennial report on financial integration and structure in the Euro Area uses our research showing that integration has been lower and different than previously understood. Sets Capital Markets Union as key strategic goal. ecb.europa.eu/press/fie/box/…

The European Central Bank’s newly released third biennial report on the state of financial integration in the Euro Area draws on our recent work — showing much more financial fragmentation than commonly understood. Nice reading for anyone with an interest in int’l finance!

#SUERFpolicybrief: "Determinants of #currency choice in cross-border bank loans" by Lorenz Emter, Peter McQuade and Martin Schmitz (European Central Bank), Swapan-Kumar Pradhan (Bank for International Settlements ) ➡️tinyurl.com/yce98h7y

📚 Recent Publication News 📚 Professor Agustín Bénétrix has published "Automatic for the (tax) people ..." with Lorenz Emter & Martin Schmitz in Economic Policy. Read more 👉tinyurl.com/yrsx738y Oxford University Press @TCD_SSP #econtwitter #econresearch

Current account surplus down: Germany’s current account recorded a surplus of 14.4 billion euro in August 2024, down 3.3 billion euro on the previous month’s level. This was chiefly attributable to a smaller goods account surplus. ▶️ bundesbank.de/content/942268 #balanceofpayments

How did the euro area current account balance evolve in August? And how does it compare with the same month a year earlier?

How did the euro area current account balance evolve in September? And how does it compare with the same month a year earlier?

How did the euro area current account balance evolve in October? And how does it compare with the same month a year earlier?

How did the euro area current account balance evolve in November? And how does it compare with the same month a year earlier?

How did the euro area current account balance evolve in February? And how does it compare with the same month a year earlier?

Happy to share some new work with Georgios Georgiadis, Peter McQuade, Vlad Burian and Martin Schmitz on the role of geopolitics for foreign holdings of euro area government debt. ecb.europa.eu/press/other-pu…

Actually the ECB "ECB estimates suggest that almost 30% of the euro area goods surplus with the United States in 2024 involved trade by euro area affiliates of US MNEs, while these companies accounted for around 90% of the euro area deficit in services trade" 2/

Brilliant, short ECB paper on transatlantic trade ... ecb.europa.eu/press/economic…

"A relocation of US MNEs’ operations away from the euro area could result in lower euro area GDP via reduced production and exports" Lorenz Emter, Michael Fidora, Fausto Pastoris, Martin Schmitz, Tobias Schuler ecb.europa.eu/press/economic… European Central Bank