euro area countries during the crisis period. In particular, the significant gains in export market shares in a number of … vulnerable euro area crisis countries did not coincide with an appropriate improvement in price competitiveness. This paper … euro area countries suggests domestic demand pressure and capacity constraint restrictions as additional variables of a …

In this paper we examine why monetary aggregates of euro area Member States have developed differently since the … inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution …