España en Europaasimetrías reales y nominales
- Vallés, Javier
- Sebastián Gascón, Miguel
- Ballabriga, Fernando C.
ISSN: 0210-9107
Year of publication: 1995
Issue: 63
Pages: 47-61
Type: Article
More publications in: Papeles de economía española
Abstract
This paper analyzes the degreeof asymmetry in the Spanish economy in comparison with other related economies. It considers the relative significance of external and domestic shocks, their nominal or real origin, and their transmission over time.From the standpoint of the asymmetrical responses of the European economies to common external shocks and the low inter-relatedness between nominal and real variables, Spain is no exception. Where the Spanish economy most notably differs is in its delay and higher accumulated response when facing real external shocks.