This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro … area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro … over 60 countries' real effective exchange rates, including those of the individual euro area economies, and compares …

. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in … in five specific areas of labour and product market policies. Based on pooled cross-country/time series Probit …