euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the …

our estimates show that it does so indeed for US states, but not for the members of the Euro area (EA). Consistent with …

exposure of banks to the debt issued by the national government. Our results suggest that euro area crisis countries' banks …

speeches. To carry out the analysis, we construct the Euro Area Monetary Policy Event-Study Database (EA-MPD). This database …, is a contribution on its own right and we expect it to be the standard in monetary policy research for the euro area …

Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using … business cycle coherence did not increase monotonically. The COVID-19 pandemic made that the signs of the output gaps of euro …

The European Central Bank (ECB) took many measures to combat the eurozone’s rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …

The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust …, reforming the euro successfully calls for a convincing high-level commitment to preserve the euro also in unexpected …