-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany … rates on real output growth for several European countries, using German interest rates as the instrument. We show that the … growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest …

countries and Denmark. Using a newly constructed database on primary market debt issuance during 2007-09, we find evidence of a …This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone …, long maturity and local currency denomination (DLTF). Exploiting the cross-country panel data dimension of the data, we …

These Technical Notes on France explain integration of global financial markets. The stress tests for the France … point to a smaller reaction to monetary policy in France than in other large euro-area economies … constraints of the approach. Retail activity by foreign banks in France is small, but significant. The financial landscape in …

favorable. This upbeat outlook is underpinned by buoyant activity indicators and a supportive policy mix. High household and …