autarchic (i.e. fundamental) FX returns. The model is calibrated and tested on the Czech koruna/euro exchange rate in a setting … with seven Czech and euro area asset returns. …

with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data … monetary market. The effects produced by fiscal expansions on price dynamics are due to the behavior of consumers, facing a … conditions in the money market where the price level is determined. …

. The paper focuses on the euro area and utilises two variants of an estimated small-scale macroeconomic model featuring …

nominal rigidities and the role of sustained inflation differentials within the euro area. Recent evidence suggests that the …

the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve … complements an investigation of the consequences of the zerointerest- rate bound for monetary policy-making in the euro area, the …