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Price and cost competitiveness. Quarterly data on price and cost competitiveness of the European Union and its Member States. First quarter 2002. ECFIN/266/1-02-EN

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PRICE AND COST COMPETITIVENESS EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR ECONOMIC AND FINANCIAL AFFAIRS *** * * * * * * *** The quarterly reports on "Price and Cost Competitiveness" provide a periodic assessment by the Commission services of the price and cost competitiveness of the European Union and its Member States. Comments and enquiries should be addressed to : European Commission Directorate-General for Economic and Financial Affairs 200, rue de Ia Loi 1 049 Brussels, Belgium -l PRICE AND COST COMPETITIVENESS ECFIN/C-1 First quarter 2002 ECFIN/266/1/02-EN (9 European Communities, 2002. Quarterly data on price and cost competitiveness of the European Union and its Member States This document exists in English only. I PRICE AND COST COMPETITIVENESS I The format of the series "price and cost competitiveness of the euro area and the individual Member States of the European Union" has been modified. In order to improve our assessment of the competitiveness of the euro area and individual Member States, the database has been disentangled from the assessment part. This allows for a timely presentation of the Database on price and cost competitiveness for the euro area, for each Member State, as well as for five other industrial countries (United States, Japan, Norway, Australia, and Canada1). The second component offers an analytical rather than a purely descriptive assessment of the main features of the euro area and the individual member States' price and cost competitiveness. This assessment will be made twice a year, while the quarterly update of the database is maintained. The nominal effective exchange rate (NEER) of a country (or currency area) aims to track changes in the value of that country's currency relative to the currencies of its principal trading partners. It is calculated as a weighted average of the bilateral exchange rates with those currencies. Changes in cost and price competitiveness depend not o

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