We use a cohort based model to analyse determinants of labour force participation fordisaggregated groups of workers in the euro area and the five largest euro areacountries. The model captures age and cohort effects as indicators of (unobserved)determinants of participation behaviour. We use...

A striking and unexpected feature of the financial crisis has been the sharpappreciation of the US dollar against virtually all currencies globally. The paper findsthat negative US-specific macroeconomic shocks during the crisis have triggered asignificant strengthening of the US dollar, rather...