Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

euro area. To control for international spillovers, global VARs are also considered. Differences in the results can provide … a measure on the impact of financial market integration. The specifications point to some impact of liquidity shocks on …

This paper studies the causes of price dispersion in the euro area emerging in response to a shock that hits all member … attributed to different degrees of price and wage rigidities in the member countries. -- pass-through ; oil price shock ; euro …

This paper evaluates short-term forecasts of real GDP in the Euro area derived from the CESifo Economic Climate …

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental …

This paper explores the long run relationship between public and private investment in the euro area in terms of … investment might have restricted private investment and GDP growth in the euro area. The results have strong implications for the … future direction of fiscal austerity programs to combat the euro area debt crisis. …

of Euro area banks to the global financial crisis. We focus on their interest rate setting behavior in response to … standard macroeconomic shocks. Our main empirical finding is that the pass through from changes in the money market rate to …