In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows … stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR … applied for this purpose in previous studies. -- ARDL model ; cointegration ; euro area ; financial crisis ; money demand …

Is the Euro area as a whole, or are individual Euro-area member countries facing a period of sustained lower economic …, we expand our model to incorporate the financial cycle. We estimate the model for the Euro area as a whole and for nine … Euro-area member countries. Incorporating the financial cycle changes the estimated equilibrium real interest rates: For …

Small and medium size enterprises (SMEs) of southern euro-area economies (e.g. Italy, Spain) pay significantly higher … market failures prevent SMEs in southern euro area countries from access to key inputs, in particular access to finance. This …Kleine und mittlere Unternehmen (KMU) in südlichen Euro-Volkswirtschaften wie Italien und Spanien zahlen seit längerem …

losses. Thirdly, the ECB can draw on substantial reserves of the euro area national banks. -- Central bank independence …-fiskalische Aktionen engagiert war noch kaufte sie während der Finanzkrise Bonds in großem Maße direkt auf. Zweitens schafft die EZB durch …

support the stability of the euro. Among them are the enhancement of the effectiveness of the Stability and Growth Pact …

governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of … potenziell Mechanismen zur Krisenlösung und Umschuldung, ein Europäischer Währungsfond, Projekt-Bonds und/oder Euro-Bonds sein. …