policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we … prevailed until some months ago, can also manifest themselves in asset price inflation, notably in the housing market. When … are now appearing within the Euro area which threaten its long-term cohesiveness. The most manifest example of this threat …

, we are able to predict the future impact of the Euro. Our findings suggest that except for the least integrated countries … countries ; Euro area enlargement ; gravity model ; panel estimation …

whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model … data on domestic investment and interest rates on corporate loans for 5 countries of the Euro area in the period ranging …