期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：While the coronavirus (COVID-19) pandemic is a common shock affecting all euro area countries, its economic impact has not been uniform. The decline in real GDP between the fourth quarter of 2019 and the second quarter of 2020, which corresponds to the peak-totrough change in most countries, varied between 5% and 22% across euro area countries (Chart A). [1] The heterogeneous fallout from the COVID-19 shock reflects differences across countries in public health dynamics and containment measures, as well as economic factors such as the sectoral specialisation of the economy, the resilience of labour and product markets, and varying degrees of fiscal space. [2] According to projections by European and international institutions, there is a risk that growth differentials will persist during the recovery phase and impair income convergence in the euro area in the medium term.
