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 …

In this paper we look at business cycles similarities between CEE countries and the euro area. Particularly, we uncover …-in (GDP-to-inflation) and cross-country (CEECs vs. euro area) levels. Allowing for different degrees of cyclical similarity … Latvia and the euro area being at the boundary). Looking at cross-country results, almost all countries feature a fair degree …

euro exchange rate. The present analysis is of importance for the new EU Member States as they are expected to join in the … future years the euro area, where money is deemed to be highly relevant - within the two-pillar monetary strategy of the …

States and the euro area. To sharpen our estimation, we include in the information set macro data and survey data on … inflation premia differs between the US and the euro area. Long term inflation premia are countercyclical in the euro area …