At the beginning of 1999 the euro was launched as a common currency in 11 European countries. This paper addresses … empirically the medium to long-term forces driving the real euro-dollar exchange rate. Constructing a synthetic euro … determinants of the real euro-dollar exchange rate: the international real interest rate differential, relative prices in the …

economic variables determine a given country's currency bloc affiliation. The dollar bloc differs from the euro bloc in that …

. The results are robust to controlling for country fixed effects and different estimation methodologies. …

We study the determinants of sovereign bond spreads in the euro area since the introduction of the euro. We show that …

structural breaks in the factor loadings for the specification and estimation of factor models based on principal components and … correlated. We also apply the suggested test procedure to a US dataset used in Stock and Watson (2005) and a euro-area dataset …

break-even inflation rates in the euro area and the US. For maturities up to 5 years new information comes from both the … swap and the bond markets. For longer maturities the swap market provides less and less information in the euro area. In …

whether it helps to use the information that was available at the time in the choice of instruments in the estimation of the …, estimates of the present and forecasts, from OECD Economic Outlook and National Accounts. We set this up as a panel for the euro … time information in the estimation of the Phillips curve is in using forecasts made at the time to represent expectations …

As of today, estimating interest rate reaction functions for the Euro Area is hampered by the short time span since the …