, cumulatively, due to low bond yields since the onset of the Euro crisis. In order to determine the contribution of the "flight to …

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by … sample from 1980 to 2000. However, historical decompositions reveal that fluctuations since the introduction of the euro in …

variables. Therefore, I derive a financial market stress indicator (FMSI) for Germany and the Euro Area using a dynamic … about 30 percent in the Euro Area. I show that the inclusion of the indicator significantly improves out …

This paper uses the order book for 2007 and 2008 of a key Euro area market maker in the unsecured money market to …

This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …

support to the model predictions, especially in countries outside the euro area. …