In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

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 …

The euro area will not have a centralised budget and smoothing of country-specific asymmetric shocks via private …

transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our …

Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations …

projection model for the Euro Area (aggregate data), Germany, Italy, and Portugal, we analyze the interaction between both … even positive). The dependence of the effectiveness of monetary policy on fiscal solvency is valid for Euro-Area and all …

fiscal stances in the period 2001Q4-2021Q4 for a panel of the 19 countries of the Euro Area. Applying local projection …

This paper studies the impact of monetary policy on fiscal sustainability in the euro area. Our sample includes 12 euro …