The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational … instability. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on …

effects of high inflation on fiscal accounts in the euro area. Relying on the wealth of expertise in the Eurosystem - within … the Working Group on Public Finance - it documents spending indexation arrangements in all euro area countries. Thanks to …The recent spike in inflation, unprecedented in the history of the Economic and Monetary Union (EMU), has had major …

We develop an agent-based model for the euro area that fulfils widely recommended requirements for nextgeneration … crises of the euro area: the Financial crisis of 2007-2008 and the subsequent Great Recession, the European sovereign debt … crisis arising endogenously around the most intense phase of the Great Recession in the euro area without any exogenous …