before and after the introduction of the euro. Exceptions are a strong decline in real exchange rate volatility and a … EMU on standard business cycles statistics. However, further analysis reveals that the euro has changed the nature of the …

It is widely recognised that the "one-size-fits-all" monetary policy of the euro-zone is a potential problem. How much … competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to … choice may lie between closer political union and a break-up of the euro-zone. …

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional … substantially across euro area countries and even been eliminated over time, thus underlining not only market integration but also …

This paper compares the behavior of Euro-Area (EA) banks’ credit and reserves with those of US banks following …

developments in the euro area since the start of EMU. …

for the euro area in order to study the features of financial intermediation over the business cycle. We find that …

The objective of this study is to investigate the behaviour of monetary and fiscal authorities in the Euro area. Our …