into the euro area. This paper addresses the question of whether a reduction of public deficits, such as imposed by the … Maastricht fiscal criteria, is a necessary or useful step on the road to the adoption of the euro. The question is addressed by …

the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality …

gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …

How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that …

The paper presents a model-based assessment of fiscal multipliers operating in the euro area during the period 2011 …

The analysis of the macroeconomic impact of fiscal policies in the euro area has been traditionally limited by the … a quarterly database of euro area fiscal variables for the period 1980-2008 for a quite disaggregated set of fiscal … data for the euro area period (2000-2009). All models are multivariate, state space mixed-frequencies models estimated with …

We analyse the impact of fiscal policy shocks in the euro area as a whole, using a newly available quarterly dataset of … fiscal variables for the period 1981-2007. To allow for comparability with previous results on euro area countries and the US … net taxes shocks. In addition, to frame euro area results, we apply the same methodology for the same sample period to US …