We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone … significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and …

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro …

Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not … economic union. Their governments are financially independent. They “go Dutch”. A currency union, such as the euro union, is …

This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future … counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from … the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease …

We examine the impact of the ECB's QE on Euro Area real GDP and core CPI with a Bayesian VAR, estimated on monthly data …

The eurozone has a single short-term nominal interest rate, but monetary policy conditions measured by real short …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … mechanism, but also about the differences between the euro area and the US, which are on average essentially small …

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of … crisis. However, concerning both, the timing and the magnitude of the shocks our results also indicate that the Euro Area was …