those of bailouts. Furthermore, we demonstrate that the Euro depreciates significantly against the Yen and US Dollar … following general risk shocks in the euro area and only to a small extent following bailout shocks. The Pound Sterling is not … affected by any of these shocks. The Euro variability is, from the EMU perspective, mainly driven by shocks stemming from large …

the level of search costs and, thus, on the level of market integration. For less integrated markets, the inflation … theory. -- Inflation ; Relative price variability ; Monetary search models ; European market integration …

This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank …