We identify the drivers of the movements in the euro-dollar exchange rate during the sovereign debt crisis. In … summer of 2012 played a major role in the euro's subsequent appreciation. OMT and the reform efforts undertaken by … governments at national and European level saw off the risk of a euro-area break up and prompted net capital inflows. We estimate …

This paper studies the transmission of monetary policy shocks from the US to the euro-area using a two … increase in the Federal funds rate, the euro immediately depreciates with respect to the dollar and then appreciates in line … to euro-area output in the short run, while a negative effect emerges in the medium run. Third, the contribution of the …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below …

This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation …

in the euro area. First, it establishes some stylised facts concerning key variables in the housing market, such as the …The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and …, (ii) credit supply and (iii) housing demand shocks on the housing market and the broader economy. We find that …

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

.S. and the euro area. First, it establishes some stylised facts concerning key variables in the housing market on the two …This paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the U … on the housing market and the broader economy. The analysis shows that similarities outweigh differences as far as the …

This paper assesses the anchoring of long-term inflation expectations in the euro area, a key issue from a monetary … that long-term inflation expectations in the euro area have rapidly returned to levels close to the new 2 per cent …