Academic literature on the topic 'Trade regulation – European Union countries'
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Journal articles on the topic "Trade regulation – European Union countries"
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Furåker, Bengt. "European trade union cooperation, union density and employee attitudes to unions." Transfer: European Review of Labour and Research 26, no. 3 (July 9, 2020): 345–58. http://dx.doi.org/10.1177/1024258920933118.
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European trade unions have much to gain from cooperating with each other. Such cooperation does exist, but it is still fairly limited and many obstacles need to be overcome if cooperation is to be improved. According to our survey data, higher-level union officials regard differences concerning financial resources and national labour market regulations to be particularly substantial barriers to cooperation. The enormously varying union density across Europe, and its general decrease, also creates barriers. Therefore, employee attitudes to unions are examined using data from the International Social Survey Programme. As expected, union members tend to be more positive about trade unions than non-members. The most interesting finding, however, is that employees in some countries with low union density exhibit fairly positive views or at least views that are not less positive than what we find among employees in many countries with higher density rates. This suggests that there is potential for recruiting members.
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Kaplin, Serhii. "A Comparative Legal Analysis of the Right of Association in Trade Unions in Ukraine and the Countries of the European Union." Teisė 120 (September 30, 2021): 128–39. http://dx.doi.org/10.15388/teise.2021.120.9.
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The constitutional regulation of the status of trade unions in Ukraine has incorporated all international standards and, in comparison with some constitutions of the states of the European Union, contains detailed regulation of this right. The effective functioning of the institution of trade unions can have a significant impact not only on the protection of the social and economic rights of workers in the process of interaction with employers, but also influence the public authorities in order to optimize the implementation of social policy at the national level and reduce social tension.
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Kardanov, V. A., and V. N. Kulik. "Administrative regulation measures for foreign trade in the European union (on the example of the Republic of Poland) and in the Eurasian economic union (on the example of the Russian Federation)." Vestnik Universiteta, no. 2 (April 7, 2019): 101–5. http://dx.doi.org/10.26425/1816-4277-2019-2-101-105.
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The European Union is the largest trading partner for the Eurasian Economic Union. The multi-integration of the Eurasian Economic Union with foreign countries practically guarantees a positive result. The issues, related with non-tariff measures regulating foreign trade, have been considered in the article. For the countries of the Eurasian Economic Union and the Russian Federation in particular, in the near future, the main task should be step-by-step standardization and elimination of almost all non-tariff barriers to trade, as these values significantly aggravate the counter-trade in goods and services and hinder further integration. And this concerns, above all, the development towards the European Union.
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Meyer, Brett. "Learning to Love the Government." World Politics 68, no. 3 (May 18, 2016): 538–75. http://dx.doi.org/10.1017/s0043887116000058.
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One counterintuitive variation in wage-setting regulation is that countries with the highest labor standards and strongest labor movements are among the least likely to set a statutory minimum wage. This, the author argues, is due largely to trade union opposition. Trade unions oppose the minimum wage when they face minimal low-wage competition, which is affected by the political institutions regulating industrial action, collective agreements, and employment, as well as by the skill and wage levels of their members. When political institutions effectively regulate low-wage competition, unions oppose the minimum wage. When political institutions are less favorable toward unions, there may be a cleavage between high- and low-wage unions in their minimum wage preferences. The argument is illustrated with case studies of the UK, Germany, and Sweden. The author demonstrates how the regulation of low-wage competition affects unions’ minimum wage preferences by exploiting the following labor market institutional shocks: the Conservatives’ labor law reforms in the UK, the Hartz labor market reforms in Germany, and the European Court of Justice's Laval ruling in Sweden. The importance of union preferences for minimum wage adoption is also shown by how trade union confederation preferences influenced the position of the Labour Party in the UK and the Social Democratic Party in Germany.
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Kłosiewicz-Górecka, Urszula. "Regulation of Retail Trade Development in Poland and in the European Union Countries." Gospodarka Narodowa 184, no. 5-6 (May 25, 2003): 97–113. http://dx.doi.org/10.33119/gn/113788.
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Zalizniuk, Victoria Petrovna. "STATE REGULATION OF FOREIGN TRADE RELATIONS IN THE COUNTRIES OF THE EUROPEAN UNION." Expert: Paradigm of Law and Public Administration 13, no. 1 (2021): 161–68. http://dx.doi.org/10.32689/2617-9660-2021-1(13)-161-168.
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KRUSTIYATI, Atik, Sylvia JANISRIWATI, Novela CHRISTINE, and Mokhamad Khoirul HUDA. "Observing European Union Rejection of Indonesia's Crude Palm Oil Exports from the Most Favored Nation and Quantitative Restriction Principles." Journal of Advanced Research in Law and Economics 9, no. 3 (June 15, 2020): 905. http://dx.doi.org/10.14505/jarle.v11.3(49).25.
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Crude palm oil is one of the main commodities exported by Indonesia to several countries, including European Union. The European Union has pushed through several laws regarding climate change, including the Renewable Energy Directive II. The regulation supplementing the Renewable Energy Directive II has also been adopted by the European Commission, making the criteria for determining the high indirect land-use change-risk feedstock in Commission Delegated Regulation (EU) 2019/807. The objective of this paper is to observe if the measure taken by European Union on determining the indirect land-use change-risk feedstock has satisfied the existing WTO trade principles, the principle of most favored nation and the principle of quantitative restriction. The determining criteria in Commission Delegated Regulation (EU) 2019/807 is trade restrictive and discriminating to the export of crude palm oil, as crude palm oil is the only feedstock that falls under the criteria of high indirect land-use change-risk feedstock. The regulation has impact for the consumption of crude palm oil in Member states of European Union should be gradually reduced 0% by 2030 at the latest. As the provision on General Agreement on Tariffs and Trade embodies the principle of non-discrimination, the result of the study shows the Commission Delegated Regulation (EU) 2019/807 has violated the international trade principles. Furthermore, the general exceptions of GATT 1994 contained in Article XX (b) also doesn’t justify the measure.
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Zarbà, Carla, Gaetano Chinnici, and Mario D’Amico. "Novel Food: The Impact of Innovation on the Paths of the Traditional Food Chain." Sustainability 12, no. 2 (January 11, 2020): 555. http://dx.doi.org/10.3390/su12020555.
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Novel food refers to any type of food which was not used for human consumption before the 15 May 1997 in a specific place. This date refers to the introduction of European Union Regulation (EC) No 258/1997 which regulated the placing of novel foods or novel food ingredients on the market within the community for the first time. Then, the Regulation (EU) 2015/2283 changed the existing legislation for the categories of food belonging to novel food in order to guarantee a higher level of protection of human health and consumer interests. Algae, which are not commonly consumed by people but are considered among the most widespread foods of the future, are one of the principal food products of natural plant origin in the regulation of novel foods. However, even if algae were not well-known in the past, nowadays they are integrated into the different food cultures of the EU. This circumstance led to an analysis of the contribution of trade flows, of algae for human consumption inside and outside Europe, on the trade balance of the member countries of the European Union. Analysis of the Eurostat database was used to provide an overview of the international trade dynamics affecting the trade development of algae for human consumption in the European Union, with the aim of measuring the competitive dynamics within member countries.
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Petersmann, Ernst-Ulrich. "The European Unions Cosmopolitan Foreign Policy Constitution and Its Disregard in Transatlantic Free Trade Agreements." European Foreign Affairs Review 21, Issue 4 (December 1, 2016): 449–68. http://dx.doi.org/10.54648/eerr2016039.
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The universal recognition of human rights promotes international ‘cosmopolitan law’ protecting rights and judicial remedies of citizens in ever more fields of international regulation. Yet, even though free trade agreements (FTAs) protecting rights and remedies of citizens have been uniquely successful in European integration, the European Union (EU)’s ‘cosmopolitan foreign policy mandate’ is increasingly disregarded in FTA negotiations with non-European countries. The EU’s transatlantic FTAs risk undermining fundamental rights and judicial remedies inside the EU. Citizens rightly challenge the interest group politics in designing transatlantic FTAs and the EU’s neglect for participatory and deliberative democracy in EU trade policies on regulating international markets.
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McKay, Sonia. "Does One Size Fit All? Trade Unions, Discrimination and Legal Regulation in the European Union." International Journal of Comparative Labour Law and Industrial Relations 27, Issue 2 (June 1, 2011): 165–87. http://dx.doi.org/10.54648/ijcl2011012.
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It is argued that accessing decent work and employment is among the most effective ways of integrating people and encouraging social cohesion, and it was within this framework of understanding that, just over ten years ago, two Directives were passed: Council Directive 2000/78/EC of 27 November 2000 establishing a general framework for equal treatment in accessing employment and while in work and Council Directive 2000/43/EC of 29 June 2000 implementing the principle of equal treatment between persons irrespective of racial or ethnic origin.1 The Equality Directives do more than simply locate equality issues within the workplace. They also place a particular responsibility on Member States to promote social dialogue between the social partners, employers, and trade unions to work towards the promotion of equality. This article considers the extent to which the directives have been successful in this regard through an examination of initiatives taken by Europe's trade unions to foster equal treatment. Based on a study of 130 such trade union initiatives in thirty-four European countries, selected on the basis of their significance or degree of innovation in relation to their specific country contexts, the article examines whether and in what way the principles enshrined in the directives have impact on the practices of Europe's trade unions while also considering whether their histories, geographies, policies, and practices together with their contexts of operation make the promotion of equality in all of the areas covered by the directives a challenge too far. This also at least raises the question as to whether a single framework for legal regulation can operate as an effective tool for the promotion of equality, in particular, given the responsibility of trade unions to their members, who, in periods of economic crisis, may focus on job protection measures to the exclusion of other policies.
Dissertations / Theses on the topic "Trade regulation – European Union countries"
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Wei, De Cai. "Trade related environmental measures of European Union : a new kind of trade barriers?" Thesis, University of Macau, 2005. http://umaclib3.umac.mo/record=b1637069.
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LEAL, ARCAS Rafael. "Theory and practice of EC external trade law and policy." Doctoral thesis, European University Institute, 2007. http://hdl.handle.net/1814/13171.
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Defence date: 11 March 2008Examining board: Prof. Bruno De Witte, European University Institute (Supervisor) ; Prof. Francesca Martines, Faculty of Economics, University of Pisa ; Prof. Petros C. Mavroidis, Columbia Law School, NY and University of Neuchâtel ; Prof. Ernst-Ulrich Petersmann, European University Institute
PDF of thesis uploaded from the Library digital archive of EUI PhD theses
Both the European Community (EC) and its Member States agree that it is in their best interest to coordinate their action vis-à-vis the rest of the world in international trade agreements. Theory and Practice of EC External Trade Law and Policy looks at the intricacies of the institutional framework of EC trade law, and with special emphasis on services trade, examines the law and practice of EC external trade relations from a policy, economic, legal and an overarching European constitutional perspective. The objective of the author’s analysis is not only to find ways to nurture and preserve the unitary character of EC external trade relations in areas of shared competence between EU Member States and EU institutions, but also to understand the management of the EC’s external trade relations. The book begins with an analysis of the evolution of the EC common commercial policy, through which the author examines the checks and balances at the micro, meso and macro levels. The author then proceeds to analyse the problems faced by the EU in its external relations and the legal complexity of mixed agreements. This unique legal phenomenon is tackled from an intra-EC perspective as well as from an extra-EU perspective taking into account various implications for third parties. The major EU institutions are examined: the Commission as the negotiator of international trade agreements, the role of the EU Council and the European Parliament in concluding and ratifying of agreements and the European Court of Justice in relation to judicial enforcement. The EU’s decision-making process in the trade arena and its relation with national institutions are examined. The book concludes with an analysis of the EC’s contribution to the Doha Round in the area of services trade.
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Petronzio, Edward. "Talking trade over wine assessing the role of trade associations, bureacratic agencies and legislative bodies in the United States-European Union and Canada-European Union wine trade disputes /." Oxford, Ohio : Miami University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=miami1192736566.
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Egbe, Daniel Enonnchong. "The Global Mediterranean Policy : the evolution of the EU-Mediterranean countries relations during 1976-1998 /." free to MU campus, to others for purchase, 2000. http://wwwlib.umi.com/cr/mo/fullcit?p9998481.
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Bai, Xue. "Evaluation and suggestions on EU development assistance policy." Thesis, University of Macau, 2012. http://umaclib3.umac.mo/record=b2595841.
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Pillay, Morgenie. "The negotiation process of the EU-SA Trade, Development and Co-operation Agreement: a case of reference for the south?" Thesis, Rhodes University, 2003. http://hdl.handle.net/10962/d1003031.
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Overall the conclusions drawn about South Africa’s negotiating style and tactics were arrived at by analysing a number of reports (that closely followed the evolution of the negotiations) and then paralleling this case study’s findings with the conjectures made by the theoretical frameworks (i.e. works by Putnam, Zartmann and Churchmann) about how negotiations proceed. In the final analysis, the findings of this case are intended to provide insight for the south about how to approach any future trade negotiations with the North (or more specifically with the EU).
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Chellew, Brittany. "How Effectively does New Zealand Export to the European Union? A Multidisciplinary Approach." Thesis, University of Canterbury. National Centre for Research on Europe, 2008. http://hdl.handle.net/10092/2679.
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For a small state such as New Zealand, trade and economic partnerships are extremely important for economic survival. However, the tyranny of distance complicates this somewhat. Historically, New Zealand has always been dependent on exporting agricultural products. There are examples in New Zealand’s history of innovative ideas being utilised to New Zealand’s economic advantage, such as the advent of refrigerated shipping to the United Kingdom.
An important economic partner for New Zealand is the European Union. The European Union is the world’s largest trade power, a formidable partner for a small state, such as New Zealand, to contend with in trade related matters. The agricultural protectionist policies of the European Union are an issue for New Zealand to work around. However, the European Union is also a welcoming market for high quality products that New Zealand should supply. New Zealand’s small size means that the country has to focus on producing high quality products rather than mass production. This thesis proposes to make recommendations for the types of products New Zealand should export to the European Union, in what quantities, and by which methods. This is important for New Zealand producers and exporters to take into account if New Zealand is to expand its exports to the European Union.
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Tan, Bo. "Impact of EU enlargement on EU-China trade." Thesis, University of Macau, 2012. http://umaclib3.umac.mo/record=b2554733.
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Peng, Dan Ni. "The EU-China trade relations in the context of economic globalization." Thesis, University of Macau, 2010. http://umaclib3.umac.mo/record=b2555591.
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Robson, Sally Jane. "The trade relationship between Australia and the European Union countries : 1955-1997." Thesis, Queensland University of Technology, 1997. https://eprints.qut.edu.au/36298/1/36298_Robson_19997.pdf.
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The aim of this study is to examine Australia's economic relationship with the European Union
(EU) countries since 1955 in order to develop a greater understanding of the current situation
between them. This is to be completed on two levels. The first being the actual trade relationship
between Australia and the EU and the second being the Australian perceptions of this trade
relationship.
The research problem to be addressed in this research is:
How have the development of regional groupings like the European Union impacted
on a country's trade? What role does the fear of exclusion play in this relationship?
The research questions that address this research problem are:
RQ.1) What has occurred in Australia's trade relationship with the EU countries since
1955?
RQ.2) How do Australians perceive Europe as a trading partner?
RQ.3) How have Australian perceptions of Europe affected economic relations with the
EU?
Chapter one introduces the background to this research, it outlines the research problem,
questions, objectives and the structure of the thesis.
Chapter two reviews the relevant literature to this research. The research is based on international
relations. A history of the emergence of the international economy is examined, and within this
processes of economic and political globalization are assessed. This provides an overview of the
processes which have led to the development of this research problem. The main theoretical body
to which this research contributes is then examined, this being the process of regionalisation as to whether a tri-polar world will be the norm or if it is a step toward globalization. An
examination of the European Union, a regional trade bloc, is then made. The further body of
theory to that on regionalisation is then examined being on customs unions, using the EU as an
example. An overview of Australia's position in the international economy and the implications
of these processes for Australia are then assessed. Finally the literature on Australian relations
with the EU is examined.
Chapter three outlines the methodological processes of this research. Qualitative analysis is to
be performed with some quantitative analysis. An historic approach is taken. Archival analysis,
surveys and interviews are used to collect the data. Procedures of data collection and analysis are
outlined and ethical procedures are considered.
Chapter four presents the findings of the research. The patterns of data pertaining to research
question one are first presented, these being the trade statistics between Australia and the EU.
Data pertaining to research question two are then presented. Firstly government perceptions of
Australia's relations with Europe are detailed. Secondly the portrayal of Europe by the media is
outlined. Finally the results of the surveys and interviews are presented giving Australian
perceptions of Europe.
Chapter five summarises the findings of the research and concludes the research questions and
problem. The variation in the reality of the trade pattern between Australia and the EU and the
Australian perception of relations with Europe are accounted for given the perception of the
Government and the Media. Implications of the research are then given for theory, and
suggestions are given for future research,
Books on the topic "Trade regulation – European Union countries"
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R, Lignelli Paula, ed. European Union and trade barriers in Europe. New York: Nova Science Publishers, 2008.
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Benedictis, Luca De, and Luca Salvatici. The trade impact of European Union preferential policies: An analysis through gravity models. Heidelberg: Springer, 2011.
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Abuse of EU law and regulation of the internal market. Oxford: Hart Publishing, 2014.
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Bourgeois, Jacques. Trade and competition law in the EU and beyond. Cheltenham: Edward Elgar, 2011.
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Harm, Schepel, ed. State and market in European Union law. New York: Cambridge University Press, 2009.
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Regulating trade in services in the EU and the WTO: Trust, distrust and economic integration. Cambridge: Cambridge University Press, 2012.
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International Trade Law Documents Supplement. 2nd ed. New York: Wolters Kluwer Law & Business, 2008.
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Martines, Francesca. The cooperation agreements with Maghreb countries: A contribution to the study of consistency of EEC development cooperation policy. Florence: European University Institute, 1994.
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The new european law of unfair commercial practices and competition law. Oxford: Hart Pub., 2011.
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Cheryl, Saunders, and Triggs Gillian D. 1945-, eds. Trade and cooperation with the European Union in the new millenium. The Hague [Netherlands]: Kluwer Law International, 2002.
Find full textBook chapters on the topic "Trade regulation – European Union countries"
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Etchart, Nicole, and Loïc Comolli. "Trade-offs between Regulation and Fostering of Social Enterprise: The Case of European Union Policies." In Social Enterprise in Emerging Market Countries, 35–57. New York: Palgrave Macmillan US, 2013. http://dx.doi.org/10.1057/9781137342102_3.
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Castaneda, Dora. "Technical Regulations in Agricultural Trade Agreements between the European Union and Central American Countries." In Managing Economies, Trade and International Business, 218–43. London: Palgrave Macmillan UK, 2010. http://dx.doi.org/10.1057/9780230274013_12.
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Kampa, Eleftheria. "Policy Framework for Hydropower Mitigation." In Novel Developments for Sustainable Hydropower, 1–11. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-99138-8_1.
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AbstractHydropower is at the cross-road of different policies on renewable energy, climate change, water and nature. Knowledge of current policies and regulations at different levels is crucial for understanding the framework conditions for more sustainable hydropower. This chapter examines the role of policy in planning and implementing mitigation actions for European hydropower. The overarching framework is set by European Union legislation in particular the Water Framework Directive, EU policies on nature/biodiversity and the EU agenda for energy and climate. All these different policies should be taken into account in a balanced way considering synergies and trade-offs. EU policies are complemented by national legislation that sets the regulatory framework for hydropower mitigation measures in each country. The impacts of hydropower for which mitigation is most commonly required by legislation are the disruption of upstream fish migration and the modification of flow conditions. Supported by a policy analysis of eight European countries, this chapter shows that recent changes in environmental legislation and societal pressure have reduced permit duration for hydropower plants. Further, the Water Framework Directive and national policy revisions have triggered modifications in authorisation procedures for hydropower at the benefit of implementing mitigation measures.
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Broom, Donald M. "EU regulations and the current position of animal welfare." In The economics of farm animal welfare: theory, evidence and policy, 147–55. Wallingford: CABI, 2020. http://dx.doi.org/10.1079/9781786392312.0147.
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Abstract In most countries of the world, sustainability issues are viewed by the public as of increasing importance and animal welfare is perceived to be both a public good and a key aspect of these issues. European Union animal welfare policy and legislation on animal welfare has helped animals, has had much positive influence in the world and has improved the public image of the EU. Health is a key part of welfare and the one-health and one-welfare approaches emphasize that these terms mean the same for humans and non-humans. The animals that humans use are described as sentient beings in EU legislation. Scientific information about animal welfare, like that produced by EFSA, is used in the formulation of the wide range of EU animal welfare laws. The European Commission has an animal welfare strategy including the Animal Welfare Platform. However, most kinds of animals kept in the EU are not covered by legislation, and they are subject to some of the worst animal welfare problems, so a general animal welfare law and specific laws on several species are needed. Animal sentience and welfare should be mentioned, using accurate scientific terminology, in many trade-related laws as well as in animal-specific laws.
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Atkinson, Ben. "Trade Policy and Preferences." In The European Union and Developing Countries, 305–21. London: Palgrave Macmillan UK, 1998. http://dx.doi.org/10.1057/9780230509184_21.
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Kur, Annette, and Martin Senftleben. "Acquisition Of Rights." In European Trade Mark Law. Oxford University Press, 2017. http://dx.doi.org/10.1093/oso/9780199680443.003.0006.
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Under European trade mark law, protection is only acquired through registration (Article 6 EUTMR; Article 1 TMD). Whether the mark is actually used or not is of no relevance at this stage: neither is it a requirement for protection, nor does it grant a substantive right under the European Union Trade Mark Regulation (EUTMR) or the Trade Mark Directive (TMD). However, such protection may follow from national law. Member States are free to grant use-based trade mark protection within their jurisdiction, and in a number of them—Austria, Germany, Italy, the Nordic countries, and, in the form of passing off, the United Kingdom—such protection is available under terms that may differ from country to country. The specificities of the legal regime applying to such signs are independent from the provisions in the TMD.
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Reich, Arie. "The Impact of the Court of Justice of the European Union on the Israeli Legal System." In The Impact of the European Court of Justice on Neighbouring Countries, 265–304. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198855934.003.0012.
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This chapter presents the findings of the author on the impact of the Court of Justice of the European Union (CJEU) on the Israeli legal system. After a short description of the Israeli legal system and its judiciary, including figures on the use of foreign legal sources by the courts, the chapter describes briefly the relations between the EU and Israel and notes the weak legal approximation provision in the Association Agreement. Despite the lack of obligation on Israel’s part to rely on CJEU judgments, the author has found steadily growing numbers of citations of these judgments by various Israeli courts and tribunals. The chapter presents the statistics of these citations over the years, the types of tribunals that cite the CJEU, and the fields of law where these citations are mostly found (mainly in trade marks, competition law, and labour law). It also lists the CJEU cases that are most cited by Israeli tribunals. It then assesses the impact of the citations by a coding system that allows us to observe the relative influence that the citations had in the various tribunals. After having presented a statistic overview on the citation patterns, the chapter zooms into some specific cases where the CJEU was cited in order to put the citation into context and better understand its significance. Finally, the chapter discusses instances of CJEU impact on Israeli regulation, not case law, namely in the field of competition law, sports (the Bosman case), and privacy (‘the right to be forgotten’).
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Kuruvilla, Sarosh. "Conclusion." In Private Regulation of Labor Standards in Global Supply Chains, 272–74. Cornell University Press, 2021. http://dx.doi.org/10.7591/cornell/9781501754517.003.0011.
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This concluding chapter reviews the key findings and arguments of this book regarding private regulation. It also looks at other suggestions to reform and improve private regulation which are not canvassed extensively in this book. An important one is to reform the buyer–supplier contract to make the contract “work both ways” — that is, level the playing field so suppliers and workers can sue for buyer compliance. A second concerns institutionalizing unemployment insurance for supply chain workers. Meanwhile, a third suggestion is that global buyers reform their sourcing to source only from countries with good labor standards, or at a minimum, clearly indicate to those country's governments that they will stop sourcing if labor laws are not enforced. Ultimately, private regulation is not a panacea, and researchers have pointed to other steps that could improve working conditions in supply chains. For one thing, national governments need to do a better job enforcing existing labor laws; indeed, it was governments' failure to do so that gave rise to private regulation. Another step is regionalization — harmonizing national labor standards within regional trade blocs through arrangements similar to those employed by the European Union. Moreover, labor standards could be improved if the International Labour Organization (ILO) could be more forceful with its members with respect to adhering to ILO conventions.
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"Article 1. EU trade mark." In European Union Trade Mark Regulation, edited by Gordian N. Hasselblatt, 1–41. Verlag C.H.BECK oHG, 2020. http://dx.doi.org/10.17104/9783406759093-1.
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"SECTION 1. Definition of an EU trade mark and obtaining an EU trade mark." In European Union Trade Mark Regulation, edited by Gordian N. Hasselblatt, 54–325. Verlag C.H.BECK oHG, 2020. http://dx.doi.org/10.17104/9783406759093-54.
Full textConference papers on the topic "Trade regulation – European Union countries"
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Ay, Ahmet, Fatih Ayhan, and Mustafa Gerçeker. "Analyzing the Free Movement of Goods Principle in European Union." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01419.
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In this paper, it will be analyzed the free movement of goods principle’s progress in European Union. This principle have special importance for all countries not only EU members. Because of globalisation’s effects, all countries have to open their boundaries to all over the World. Thus the free movement of goods affects almost all countries. Free movement of goods principle is achieved a successful progress in EU case. In this paper, we will try to show this principle’s success in EU agreements, regulations, settlements and peaks. Not only in EU, but also all open economies are getting extra benefit from trade. Free movement of goods is a part of international trade and also first step of EU integration process. Followings steps are consisting of free movement of capitals, services and human. In this paper, we’ll show the meaning and importance of this principle and its historical progress in EU. And also it will be analyzed to basic drawback, preventions, and exceptions of this principle.
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Aanstoos, Ted A. "Management Challenges in Emerging European Union Eco-Standards." In ASME 2004 Power Conference. ASMEDC, 2004. http://dx.doi.org/10.1115/power2004-52115.
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The European Union is 450 million citizens in 25 otherwise sovereign countries, but connected in a multinational federal metastate that claims a combined economy in excess of $9 trillion (US), making it one of the world’s largest economies. As a community faced with massive decontamination and re-industrialization from devastating wars, Europe places due emphasis on issues of environmental sustainability and pollution prevention. Under broad policy guidelines of the New Approach and Integrated Product Planning frameworks, the European Commission is drafting legislation that will mandate eco-standards for all energized end-use equipment for sale in the internal market. These proposed standards may raise controversy in many industry sectors and international arenas (including within Europe itself) because they may not be based on sound and accepted scientific analysis, because they may constitute a de-facto violation at least in spirit of the Technical Barriers to Trade Agreement, and because nobody can yet predict their cost impact and other market effect. Compliance with these emerging energy efficiency regulations will impose considerable management requirements on manufacturers as they devise documentation and certification programs for their products that are likely to be of a scope similar to ISO 14000. This paper assesses the new requirements from a product and design management perspective.
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Babich, Irina. "INTENSIFICATION OF CANADA FOREIGN TRADE WITH THE COUNTRIES OF THE EUROPEAN UNION." In 5th SGEM International Multidisciplinary Scientific Conferences on SOCIAL SCIENCES and ARTS SGEM2018. STEF92 Technology, 2018. http://dx.doi.org/10.5593/sgemsocial2018h/11/s12.089.
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Kontsevaya, Stanislava, Lubos Smutka, Alexander Metlyahin, and Alina Danilovska. "Trade Flow Estimation Between Russia and European Union Countries per Agricultural Commodity Group." In Hradec Economic Days 2020, edited by Petra Maresova, Pavel Jedlicka, Krzysztof Firlej, and Ivan Soukal. University of Hradec Kralove, 2020. http://dx.doi.org/10.36689/uhk/hed/2020-01-040.
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Mačiulytė-Šniukienė, Alma, and Aurelija Burinskienė. "Logistics and international trade development relationship: evidence of European Union member states." In 11th International Scientific Conference „Business and Management 2020“. VGTU Technika, 2020. http://dx.doi.org/10.3846/bm.2020.524.
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International trade (IT) is recognised as one of the driving forces for business and the growth of countries’ economic. The amount of IT flows is contributed by the “logistics revolution”. According to the conceptual approach, the development of transportation modes, logistics infrastructure may facilitate in-ternational trade. However, it remains unclear whether logistic performance changes contribute to IT flows since the number of researches that examine the effect of logistic performance on IT is limited. So, this paper aims to determine whether the flows of IT are contingent on logistics performance. The research re-lies on panel data of 28 European Union (EU) Member States (MS) over 2007–2016. The results of our investigation confirmed that the changes of logistics performance positively related to IT flow of EU MS, but this impact differs across countries.
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Solnyškinienė, Jolanta, and Beata Černis. "Developments of the European Union's export directions in the context of the US-EU trade war." In 11th International Scientific Conference „Business and Management 2020“. VGTU Technika, 2020. http://dx.doi.org/10.3846/bm.2020.645.
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The article assesses which countries in the world are most suitable for export such goods as aluminum, steel, cheese, and meat from the European Union in the context of the European Union – US trade wars. The theoretical study is designed to identify factors that promote the export and import of goods and to identify factors that can be used for further multicriteria research. An investigation using multi-criteria methods, EDAS, TOPSIS and SAW, revealed alternative export countries in the context of the EU-US trade war. The calculated RCA index showed the competitiveness of the analyzed products: aluminum, steel, cheese and meat in the selected countries. Another step was a forecast of exports of the analyzed goods and also was made conclusions to which countries are most suitable to export aluminum,steel, meat, and cheese in the context of the European Union-US trade war.
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Tufaner, Mustafa Batuhan, Hasan Boztoprak, and İlyas Sözen. "An Alternative to The European Customs Union for Turkey in The Framework of Economic Integration Theory: Eurasian Customs Union." In International Conference on Eurasian Economies. Eurasian Economists Association, 2017. http://dx.doi.org/10.36880/c09.01957.
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The liberalization policies begun after 1980 and globalization process bring with new economic associations and trade blocs among countries. The European Customs Union which established to improve economic relations and to make the political integration possible after World War II, reached large trade capacity today. On the other hand, the Post-Soviet countries that followed similar way like European ones established Eurasian Customs Union under the leadership of Kazakhstan, Belarus and Russia. The advantage of European Customs Union for Turkey which became a member of it in 1995 is still discussed. From this viewpoint the study aims to answer a question that Eurasian Customs Union can be an alternative to European Customs Union for Turkey in point of trade capacity. The aim of the study is to discuss the possibility of the Eurasian Customs Union and to compare it with the European Customs Union in which Turkey is involved. In this context, at first, the conceptual framework about the subject will be discussed and European Customs Union and Turkey relations will be examined. After, the current situation of the Eurasian region will be analyzed and the possibility of the Eurasian Customs Union will be discussed. And, which customs union will be more advantageous in terms of Turkey will be examined by VAR analysis.
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Koç, Neslihan. "Analyzing the Foreing Trade Relations of Turkey and Macedonia within the Framework of Free Trade Agreement." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.00965.
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Turkey, because of its responsibilities derived from Custom Union with European Union, makes limited Free Trade Agreements (FTAs) with those states which have already signed such agreements with EU. As yet Turkey has signed FTAs with 19 countries including Macedonia. It's expected from FTA's that raise awareness of partner countries about each other’s economic and commercial potentials. In this study a general overview will be made to emphasize the relationship between FTAs which Turkey has signed with other countries and increase in Turkey’s trade volume in the same period. Subsequently, with regarding the FTA and commercial relations with Macedonia, an assessment will be made by using the lists of countries imports and exports, based on Republic of Turkey Ministry of Economy statistics for the period of 2001-2012.
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Değer, Mustafa Kemal, Muharrem Akın Doğanay, and Osman Murat Telatar. "The Determinants of Turkey's Intra-Industry Trade with European Union Countries: The Gravity Model Results (1996-2013)." In International Conference on Eurasian Economies. Eurasian Economists Association, 2015. http://dx.doi.org/10.36880/c06.01364.
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In recent years, structure of world trade is transformed to intra-industry trade (IIT) that is defined as the import and export of similar commodities. The transformation of foreign trade structure has led to increase either theoretical or empirical studies on IIT. A large part of the empirical studies on international trade deals with gravity model for explaining the determinants of foreign trade. According to gravity model, trade between countries, is affected negatively to the distance between them and positively to the size of the country. Similar statements can be used in terms of the determinants of IIT. Therefore, this study will be carried out determinants of IIT with using the gravity model.
In this paper, determinants of intra-industry trade in manufacturing sectors between Turkey and European Union (EU) 15 countries will be estimated by panel data regression analysis in 1996-2013 periods. The results of this study indicate that market size and foreign direct investments have positive effects and distance between countries and real effective exchange rate have negative effects on Turkey’s manufacturing sector IIT with EU 15.
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Pawlak, Karolina. "COMPETITIVENESS OF THE POLISH MEAT INDUSTRY AGAINST SELECTED EUROPEAN UNION COUNTRIES WITHIN THE FRAMEWORK OF TRANSATLANTIC TRADE." In 10th Economics & Finance Conference, Rome. International Institute of Social and Economic Sciences, 2018. http://dx.doi.org/10.20472/efc.2018.010.027.
Full textReports on the topic "Trade regulation – European Union countries"
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Jones, Emily, Beatriz Kira, Anna Sands, and Danilo B. Garrido Alves. The UK and Digital Trade: Which way forward? Blavatnik School of Government, February 2021. http://dx.doi.org/10.35489/bsg-wp-2021/038.
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The internet and digital technologies are upending global trade. Industries and supply chains are being transformed, and the movement of data across borders is now central to the operation of the global economy. Provisions in trade agreements address many aspects of the digital economy – from cross-border data flows, to the protection of citizens’ personal data, and the regulation of the internet and new technologies like artificial intelligence and algorithmic decision-making. The UK government has identified digital trade as a priority in its Global Britain strategy and one of the main sources of economic growth to recover from the pandemic. It wants the UK to play a leading role in setting the international standards and regulations that govern the global digital economy. The regulation of digital trade is a fast-evolving and contentious issue, and the US, European Union (EU), and China have adopted different approaches. Now that the UK has left the EU, it will need to navigate across multiple and often conflicting digital realms. The UK needs to decide which policy objectives it will prioritise, how to regulate the digital economy domestically, and how best to achieve its priorities when negotiating international trade agreements. There is an urgent need to develop a robust, evidence-based approach to the UK’s digital trade strategy that takes into account the perspectives of businesses, workers, and citizens, as well as the approaches of other countries in the global economy. This working paper aims to inform UK policy debates by assessing the state of play in digital trade globally. The authors present a detailed analysis of five policy areas that are central to discussions on digital trade for the UK: cross-border data flows and privacy; internet access and content regulation; intellectual property and innovation; e-commerce (including trade facilitation and consumer protection); and taxation (customs duties on e-commerce and digital services taxes). In each of these areas the authors compare and contrast the approaches taken by the US, EU and China, discuss the public policy implications, and examine the choices facing the UK.
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Kira, Beatriz, Rutendo Tavengerwei, and Valary Mumbo. Points à examiner à l'approche des négociations de Phase II de la ZLECAf: enjeux de la politique commerciale numérique dans quatre pays d'Afrique subsaharienne. Digital Pathways at Oxford, March 2022. http://dx.doi.org/10.35489/bsg-dp-wp_2022/01.
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Realities such as the COVID-19 pandemic have expedited the move to online operations, highlighting the undeniable fact that the world is continuing to go digital. This emphasises the need for policymakers to regulate in a manner that allows them to harness digital trade benefits while also avoiding associated risk. However, given that digital trade remains unco-ordinated globally, with countries adopting different approaches to policy issues, national regulatory divergence on the matter continues, placing limits on the benefits that countries can obtain from digital trade. Given these disparities, ahead of the African Continental Free Trade Area (AfCFTA) Phase II Negotiations, African countries have been considering the best way to harmonise regulations on issues related to digital trade. To do this effectively, AfCFTA members need to identify where divergencies exist in their domestic regulatory systems. This will allow AfCFTA members to determine where harmonisation is possible, as well as what is needed to achieve such harmonisation. This report analyses the domestic regulations and policies of four focus countries – South Africa, Nigeria, Kenya and Senegal – comparing their regulatory approaches to five policy issues: i) regulation of online transactions; ii) cross-border data flows, data localisation, and personal data protection; iii) access to source code and technology transfer; iv) intermediary liability; and v) customs duties on electronic transmissions. The study highlights where divergencies exist in adopted approaches, indicating the need for the four countries – and AfCFTA members in general – to carefully consider the implications of the divergences, and determine where it is possible and beneficial to harmonise approaches. This was intended to encourage AfCFTA member states to take ownership of these issues and reflect on the reforms needed. As seen in Table 1 below, the study shows that the four countries diverge on most of the five policy issues. There are differences in how all four countries regulate online transactions – that is, e-signatures and online consumer protection. Nigeria was the only country out of the four to recognise all types of e-signatures as legally equivalent. Kenya and Senegal only recognise specific e-signatures, which are either issued or validated by a recognised institution, while South Africa adopts a mixed approach, where it recognises all e-signatures as legally valid, but provides higher evidentiary weight to certain types of e-signatures. Only South Africa and Senegal have specific regulations relating to online consumer protection, while Nigeria and Kenya do not have any clear rules. With regards to cross border data flows, data localisation, and personal data protection, the study shows that all four focus countries have regulations that consist of elements borrowed from the European Union (EU) General Data Protection Regulation (GDPR). In particular, this was regarding the need for the data subject's consent, and also the adequacy requirement. Interestingly, the study also shows that South Africa, Kenya and Nigeria also adopt data localisation measures, although at different levels of strictness. South Africa’s data localisation laws are mostly imposed on data that is considered critical – which is then required to be processed within South African borders – while Nigeria requires all data to be processed and stored locally, using local servers. Kenya imposes data localisation measures that are mostly linked to its priority for data privacy. Out of the four focus countries, Senegal is the only country that does not impose any data localisation laws. Although the study shows that all four countries share a position on customs duties on electronic transmissions, it is also interesting to note that none of the four countries currently have domestic regulations or policies on the subject. The report concludes by highlighting that, as the AfCFTA Phase II Negotiations aim to arrive at harmonisation and to improve intra-African trade and international trade, AfCFTA members should reflect on their national policies and domestic regulations to determine where harmonisation is needed, and whether AfCFTA is the right platform for achieving this efficiently.
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Fairlie, Alan. New challenges for the European Union's Multiparty Trade Agreement with Peru, Colombia and Ecuador. Fundación Carolina, February 2022. http://dx.doi.org/10.33960/issn-e.1885-9119.dtff02en.
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This document analyses the trade and cooperation relations between the European Union and the Andean countries with which the Multiparty Trade Agreement was signed (Peru, Ecuador and Colombia). It also examines the progress and challenges in terms of the sustainable development agenda, political dialogue and cooperation within the framework of the agreement. From there, it explores the different technical difficulties that have arisen in the implementation of the agreement and the role of the monitoring bodies. The aim is to study the strategic importance of the agreement in relations between the European Union and Peru, Ecuador and Colombia, and its contribution to the post-pandemic economic recovery and the promotion of new development models.
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González Rozada, Martín, and Hernán Ruffo. Do Trade Agreements Contribute to the Decline in Labor Share? Evidence from Latin American Countries. Inter-American Development Bank, November 2021. http://dx.doi.org/10.18235/0003790.
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In this paper, we explore the role of trade in the evolution of labor share in Latin American countries. We use trade agreements with large economies (the United States, the European Union, and China) to capture the effect of sharp changes in trade. In the last two decades, labor share has displayed a negative trend among those countries that signed trade agreements, while in other countries labor share increased, widening the gap by 7 percentage points. We apply synthetic control methods to estimate the average causal impact of trade agreements on labor share. While effects are heterogeneous in our eight case studies, the average impact is negative between 2 to 4 percentage points of GDP four years after the entry into force of the trade agreements. This result is robust to the specification used and to the set of countries in the donor pool. We also find that, after trade agreements, exports of manufactured goods and the share of industry in GDP increase on average, most notably in the case studies where negative effects on labor share are significant. A decomposition shows that all the reduction in labor share is explained by a negative impact on real wages.
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Bourrier, Mathilde, Michael Deml, and Farnaz Mahdavian. Comparative report of the COVID-19 Pandemic Responses in Norway, Sweden, Germany, Switzerland and the United Kingdom. University of Stavanger, November 2022. http://dx.doi.org/10.31265/usps.254.
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The purpose of this report is to compare the risk communication strategies and public health mitigation measures implemented by Germany, Norway, Sweden, Switzerland, and the United Kingdom (UK) in 2020 in response to the COVID-19 pandemic based on publicly available documents. The report compares the country responses both in relation to one another and to the recommendations and guidance of the World Health Organization where available. The comparative report is an output of Work Package 1 from the research project PAN-FIGHT (Fighting pandemics with enhanced risk communication: Messages, compliance and vulnerability during the COVID-19 outbreak), which is financially supported by the Norwegian Research Council's extraordinary programme for corona research. PAN-FIGHT adopts a comparative approach which follows a “most different systems” variation as a logic of comparison guiding the research (Przeworski & Teune, 1970). The countries in this study include two EU member States (Sweden, Germany), one which was engaged in an exit process from the EU membership (the UK), and two non-European Union states, but both members of the European Free Trade Association (EFTA): Norway and Switzerland. Furthermore, Germany and Switzerland govern by the Continental European Federal administrative model, with a relatively weak central bureaucracy and strong subnational, decentralised institutions. Norway and Sweden adhere to the Scandinavian model—a unitary but fairly decentralised system with power bestowed to the local authorities. The United Kingdom applies the Anglo-Saxon model, characterized by New Public Management (NPM) and decentralised managerial practices (Einhorn & Logue, 2003; Kuhlmann & Wollmann, 2014; Petridou et al., 2019). In total, PAN-FIGHT is comprised of 5 Work Packages (WPs), which are research-, recommendation-, and practice-oriented. The WPs seek to respond to the following research questions and accomplish the following: WP1: What are the characteristics of governmental and public health authorities’ risk communication strategies in five European countries, both in comparison to each other and in relation to the official strategies proposed by WHO? WP2: To what extent and how does the general public’s understanding, induced by national risk communication, vary across five countries, in relation to factors such as social capital, age, gender, socio-economic status and household composition? WP3: Based on data generated in WP1 and WP2, what is the significance of being male or female in terms of individual susceptibility to risk communication and subsequent vulnerability during the COVID-19 outbreak? WP4: Based on insight and knowledge generated in WPs 1 and 2, what recommendations can we offer national and local governments and health institutions on enhancing their risk communication strategies to curb pandemic outbreaks? WP5: Enhance health risk communication strategies across five European countries based upon the knowledge and recommendations generated by WPs 1-4. Pre-pandemic preparedness characteristics All five countries had pandemic plans developed prior to 2020, which generally were specific to influenza pandemics but not to coronaviruses. All plans had been updated following the H1N1 pandemic (2009-2010). During the SARS (2003) and MERS (2012) outbreaks, both of which are coronaviruses, all five countries experienced few cases, with notably smaller impacts than the H1N1 epidemic (2009-2010). The UK had conducted several exercises (Exercise Cygnet in 2016, Exercise Cygnus in 2016, and Exercise Iris in 2018) to check their preparedness plans; the reports from these exercises concluded that there were gaps in preparedness for epidemic outbreaks. Germany also simulated an influenza pandemic exercise in 2007 called LÜKEX 07, to train cross-state and cross-department crisis management (Bundesanstalt Technisches Hilfswerk, 2007). In 2017 within the context of the G20, Germany ran a health emergency simulation exercise with WHO and World Bank representatives to prepare for potential future pandemics (Federal Ministry of Health et al., 2017). Prior to COVID-19, only the UK had expert groups, notably the Scientific Advisory Group for Emergencies (SAGE), that was tasked with providing advice during emergencies. It had been used in previous emergency events (not exclusively limited to health). In contrast, none of the other countries had a similar expert advisory group in place prior to the pandemic. COVID-19 waves in 2020 All five countries experienced two waves of infection in 2020. The first wave occurred during the first half of the year and peaked after March 2020. The second wave arrived during the final quarter. Norway consistently had the lowest number of SARS-CoV-2 infections per million. Germany’s counts were neither the lowest nor the highest. Sweden, Switzerland and the UK alternated in having the highest numbers per million throughout 2020. Implementation of measures to control the spread of infection In Germany, Switzerland and the UK, health policy is the responsibility of regional states, (Länders, cantons and nations, respectively). However, there was a strong initial centralized response in all five countries to mitigate the spread of infection. Later on, country responses varied in the degree to which they were centralized or decentralized. Risk communication In all countries, a large variety of communication channels were used (press briefings, websites, social media, interviews). Digital communication channels were used extensively. Artificial intelligence was used, for example chatbots and decision support systems. Dashboards were used to provide access to and communicate data.
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Monetary Policy Report - July 2022. Banco de la República, October 2022. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr3-2022.
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In the second quarter, annual inflation (9.67%), the technical staff’s projections and its expectations continued to increase, remaining above the target. International cost shocks, accentuated by Russia's invasion of Ukraine, have been more persistent than projected, thus contributing to higher inflation. The effects of indexation, higher than estimated excess demand, a tighter labor market, inflation expectations that continue to rise and currently exceed 3%, and the exchange rate pressures add to those described above. High core inflation measures as well as in the producer price index (PPI) across all baskets confirm a significant spread in price increases. Compared to estimates presented in April, the new forecast trajectory for headline and core inflation increased. This was partly the result of greater exchange rate pressure on prices, and a larger output gap, which is expected to remain positive for the remainder of 2022 and which is estimated to close towards yearend 2023. In addition, these trends take into account higher inflation rate indexation, more persistent above-target inflation expectations, a quickening of domestic fuel price increases due to the correction of lags versus the parity price and higher international oil price forecasts. The forecast supposes a good domestic supply of perishable foods, although it also considers that international prices of processed foods will remain high. In terms of the goods sub-basket, the end of the national health emergency implies a reversal of the value-added tax (VAT) refund applied to health and personal hygiene products, resulting in increases in the prices of these goods. Alternatively, the monetary policy adjustment process and the moderation of external shocks would help inflation and its expectations to begin to decrease over time and resume their alignment with the target. Thus, the new projection suggests that inflation could remain high for the second half of 2022, closing at 9.7%. However, it would begin to fall during 2023, closing the year at 5.7%. These forecasts are subject to significant uncertainty, especially regarding the future behavior of external cost shocks, the degree of indexation of nominal contracts and decisions made regarding the domestic price of fuels. Economic activity continues to outperform expectations, and the technical staff’s growth projections for 2022 have been revised upwards from 5% to 6.9%. The new forecasts suggest higher output levels that would continue to exceed the economy’s productive capacity for the remainder of 2022. Economic growth during the first quarter was above that estimated in April, while economic activity indicators for the second quarter suggest that the GDP could be expected to remain high, potentially above that of the first quarter. Domestic demand is expected to maintain a positive dynamic, in particular, due to the household consumption quarterly growth, as suggested by vehicle registrations, retail sales, credit card purchases and consumer loan disbursement figures. A slowdown in the machinery and equipment imports from the levels observed in March contrasts with the positive performance of sales and housing construction licenses, which indicates an investment level similar to that registered for the first three months of the year. International trade data suggests the trade deficit would be reduced as a consequence of import levels that would be lesser than those observed in the first quarter, and stable export levels. For the remainder of the year and 2023, a deceleration in consumption is expected from the high levels seen during the first half of the year, partially as a result of lower repressed demand, tighter domestic financial conditions and household available income deterioration due to increased inflation. Investment is expected to continue its slow recovery while remaining below pre-pandemic levels. The trade deficit is expected to tighten due to projected lower domestic demand dynamics, and high prices of oil and other basic goods exported by the country. Given the above, economic growth in the second quarter of 2022 would be 11.5%, and for 2022 and 2023 an annual growth of 6.9% and 1.1% is expected, respectively. Currently, and for the remainder of 2022, the output gap would be positive and greater than that estimated in April, and prices would be affected by demand pressures. These projections continue to be affected by significant uncertainty associated with global political tensions, the expected adjustment of monetary policy in developed countries, external demand behavior, changes in country risk outlook, and the future developments in domestic fiscal policy, among others. The high inflation levels and respective expectations, which exceed the target of the world's main central banks, largely explain the observed and anticipated increase in their monetary policy interest rates. This environment has tempered the growth forecast for external demand. Disruptions in value chains, rising international food and energy prices, and expansionary monetary and fiscal policies have contributed to the rise in inflation and above-target expectations seen by several of Colombia’s main trading partners. These cost and price shocks, heightened by the effects of Russia's invasion of Ukraine, have been more prevalent than expected and have taken place within a set of output and employment recovery, variables that in some countries currently equal or exceed their projected long-term levels. In response, the U.S. Federal Reserve accelerated the pace of the benchmark interest rate increase and rapidly reduced liquidity levels in the money market. Financial market actors expect this behavior to continue and, consequently, significantly increase their expectations of the average path of the Fed's benchmark interest rate. In this setting, the U.S. dollar appreciated versus the peso in the second quarter and emerging market risk measures increased, a behavior that intensified for Colombia. Given the aforementioned, for the remainder of 2022 and 2023, the Bank's technical staff increased the forecast trajectory for the Fed's interest rate and reduced the country's external demand growth forecast. The projected oil price was revised upward over the forecast horizon, specifically due to greater supply restrictions and the interruption of hydrocarbon trade between the European Union and Russia. Global geopolitical tensions, a tightening of monetary policy in developed economies, the increase in risk perception for emerging markets and the macroeconomic imbalances in the country explain the increase in the projected trajectory of the risk premium, its trend level and the neutral real interest rate1. Uncertainty about external forecasts and their consequent impact on the country's macroeconomic scenario remains high, given the unpredictable evolution of the conflict between Russia and Ukraine, geopolitical tensions, the degree of the global economic slowdown and the effect the response to recent outbreaks of the pandemic in some Asian countries may have on the world economy. This macroeconomic scenario that includes high inflation, inflation forecasts, and expectations above 3% and a positive output gap suggests the need for a contractionary monetary policy that mitigates the risk of the persistent unanchoring of inflation expectations. In contrast to the forecasts of the April report, the increase in the risk premium trend implies a higher neutral real interest rate and a greater prevailing monetary stimulus than previously estimated. For its part, domestic demand has been more dynamic, with a higher observed and expected output level that exceeds the economy’s productive capacity. The surprising accelerations in the headline and core inflation reflect stronger and more persistent external shocks, which, in combination with the strength of aggregate demand, indexation, higher inflation expectations and exchange rate pressures, explain the upward projected inflation trajectory at levels that exceed the target over the next two years. This is corroborated by the inflation expectations of economic analysts and those derived from the public debt market, which continued to climb and currently exceed 3%. All of the above increase the risk of unanchoring inflation expectations and could generate widespread indexation processes that may push inflation away from the target for longer. This new macroeconomic scenario suggests that the interest rate adjustment should continue towards a contractionary monetary policy landscape. 1.2. Monetary policy decision Banco de la República’s Board of Directors (BDBR), at its meetings in June and July 2022, decided to continue adjusting its monetary policy. At its June meeting, the BDBR decided to increase the monetary policy rate by 150 basis points (b.p.) and its July meeting by majority vote, on a 150 b.p. increase thereof at its July meeting. Consequently, the monetary policy interest rate currently stands at 9.0% . 1 The neutral real interest rate refers to the real interest rate level that is neither stimulative nor contractionary for aggregate demand and, therefore, does not generate pressures that lead to the close of the output gap. In a small, open economy like Colombia, this rate depends on the external neutral real interest rate, medium-term components of the country risk premium, and expected depreciation. Box 1: A Weekly Indicator of Economic Activity for Colombia Juan Pablo Cote Carlos Daniel Rojas Nicol Rodriguez Box 2: Common Inflationary Trends in Colombia Carlos D. Rojas-Martínez Nicolás Martínez-Cortés Franky Juliano Galeano-Ramírez Box 3: Shock Decomposition of 2021 Forecast Errors Nicolás Moreno Arias