estimation strategies as a test of the robustness of our main results. We introduce a new indicator of ECB communications … policies that focuses on what the ECB says about the future economic outlook for the euro area along five different economic … monetary policy is the euro area-US differential than when any other proxy for monetary policy is employed …

estimation strategies as a test of the robustness of our main results. We introduce a new indicator of ECB communications … policies that focuses on what the ECB says about the future economic outlook for the euro area along five different economic … - interest rate relationship is more apparent when the proxy for monetary policy is the euro area - US differential than when any …