Transparent communication is a prerequisite for delivering an effective monetary policy. In this paper, we examine over … 3000 speeches from central bankers to investigate the topics euro area national banks and the ECB most frequently talk … stability communication lie at the core of central bank communication in the euro area. Second, the ECB’s ideal points tend to …

present diverse arguments and, where possible, explore the incipient empirical literature focussing on the euro area. Our … currency areas are at work. How strong these endogeneities are and how quickly they will do their work remains to be seen … preliminary conclusion is one of moderate optimism. The different endogeneities that exist in the dynamics towards optimum …

The aim of this paper is to investigate business cycle synchronization between seven candidate countries to the Euro … Area (EA) - Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden - and the Euro Area (EA-12/EA-19 … components for the period 1995Q1-2019Q4. The results point to the existence of a strong business cycle synchronization between …

monetary policy to stabilise the euro area economy in the medium run …We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the … OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative …

monetary policy to stabilise the euro area economy in the medium run. …We propose a new and time-varying optimum currency area (OCA) index for the euro area in assessing the evolution of the … OCA properties of the monetary union from an international business cycle perspective. It is derived from the relative …

responses even to a common shock. We augment a multi-country model of the euro area with search and matching framework that …-country heterogeneity in labour market institutions for the conduct of monetary policy in a monetary union. We compute responses to an …

In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in … labor market would alter the business cycle behavior and the transmission of monetary policy. We find that while a lower … degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …