substantially more effective if they deviate from the prevalent policy "mantra". They also tend to reduce market volatility whereas … actual interventions raise volatility. A key result of the paper is that oral interventions are effective independently from …

production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times. JEL …

economic growth to a fiscal shock are mostly positive in both financial stress regimes; (iii) financial stress has a negative … shock is mainly associated with different behaviour across regimes; (v) the size of the fiscal multipliers is higher than …

producer currency invoicing by eurozone countries is primarily caused by a drop in inflation volatility and can only to a small … countries for the 1996-2006 period. We find that eurozone countries have substantially increased their share of home currency … invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In …

. By contrast, we combine these two explanations in the context of an innovativepanel estimation methodology.. …

We reappraise the relationship between productivity and equilibrium real exchangerates using a panel estimation …