Quarterly Report on the Euro Area (QREA), Vol. 22, No. 4 (2023)

This edition studies some aspects of the shocks that have recently affected the euro area and some of the benefits of the European response. In particular, it analyses the causes of food inflation, pointing to the role of production costs and costs related to distribution. Second, it analyses the impact of the COVID-19 shock on the accumulation of human skills in the EA and its negative consequences for future GDP developments. Finally, it studies the performance of EU bonds showing that they compare well to reference issuers.