pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area … countries? An SVAR analysis reveals that monetary stress has declined more in the euro area than in the euro areas’ doppelganger … euro becoming a dominant currency. …

In this study we have addressed the relationship between the stock market, the measure of real economic activity … sentiment indicator, the stock market has certain predictive content for the real economic activity. At the same time, the … latter variable and the stock market. We also have shown that the developments in the national stock markets are explained by …