Using novel data on individual euro area banks' balance sheets this paper shows that exposure to stressed European … households, is documented for euro area banks affected by the international liquidity shock and that drew on ECB liquidity under …

euro area banks. The period associated with the European sovereign debt crisis has witnessed increased growth in euro area … bank claims on extra-euro area residents, against a background of contracting euro area credit supply. Controlling for bank … policy in the US, UK, Japan and euro area - as drivers of the global flows of euro area banks. Moreover, regression analysis …

. The model captures the most salient features of Austria as a small open economy, the Euro Area (EA) and the United States … derived from Bayesian estimation and simulation of the estimated model. Welfare calculations from the estimated model suggest …

the EU membership, while no substantial effect comes from the euro adoption. Finally, we investigate the effects from …

) framework. This issue is of particular interest for the euro area (EA) as Member Sates cede their national currencies and no …

react stronger to demand shocks, while in the rest of the Euro Area supply shocks have a stronger impact. Comparing the … estimations on pre-EMU and EMU subsamples we find that the contribution of (rest of the) Euro Area shocks to Austria's business …