macroeconometric models. As an application we consider UK entry to the euro. Entry involves a long-term commitment to restrict UK … nominal exchange rates and interest rates to be the same as those of the euro area. We derive conditional probability … distributions for the difference between the future realisations of variables of interest (e.g UK and euro area output and prices …

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 …

By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro …, with a detrimental effect on the competitiveness of the Italian economy. -- Euro changeover ; staggered price adjustments …

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 …

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

We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national … responses to the unsystematic component of macroprudential policy in panel vector autoregressive models for euro area "core" and …

revenues, using a Fiscal Rule Index. We find that fiscal rules have some effect on fiscal balances. -- euro area ; fiscal …