This paper studies the relationship between the business cycle and financial intermediation in the euro area. We …

vector autoregressions (VARs) and a large dynamic factor model (DFM) for a quarterly data set of 26 euro area macroeconomic … forecasts shed light on the stability of the dynamic relationships in the euro area during the recent episodes of financial … turmoil and indicate that only a small number of sources drive the bulk of the fluctuations in the euro area economy …

, volatility has been historically higher and this has not changed in the last ten years. We also find that the aggregate euro area … and US observed developments. The gap between US and euro area GDP per capita level has been 30% on average since 1970 and …

-casting) in the euro area. We compare traditional methods used at institutions with a new method proposed by Giannone, Reichlin …

This paper describes how we constructed a real-time database for the euro area covering more than 200 series regularly … before their first meeting of the month. We describe the database in details and study the properties of the euro area real …

data releases and the resulting forecast revisions. To illustrate our ideas, we study the nowcast of euro area GDP in the …

, volatility has been historically higher and this has not changed in the last ten years. We also find that the aggregate euro area … and US observed developments. The gap between US and euro area GDP per capita level has been 30% on average since 1970 and …