the euro area. The model includes real, nominal and financial frictions, and hence both monetary and macroprudential …

euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path. The …

euro area countries, other advanced European countries (including the Nordics, the UK, etc.), and the Central, Eastern and … weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of …

two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from … joining the euro. We evaluate two alternative scenarios. In the first one, we consider a reduction of trade costs that occurs …

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not … half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro …

derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …

United States and the euro area, and we perform model comparisons to study the importance of departing from the law of one …