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 …

characteristics? Based on a common source of balance sheet data for the four largest economies of the euro area over the period 1999 … homogeneous in France, where the banking industry has a higher degree of market concentration. Second, there is some evidence that …

estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate …. We find evidence for two distinct states in both regions. For the euro area, we find a regime which is correlated to the …

unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit …) during the crisis, credit supply restrictions to firms in the Euro area and tighter standards for mortgage loans in the US …

the effects of monetary policy shocks on wages and employment in the euro area. The use of a large data set comprising … country, sectoral and euro area-wide data allows us to better identify common monetary policy shocks in the euro area and … their effects on labor market outcomes. At the same time the FAVAR approach gives us estimates of how relative wages and …

This paper provides new evidence on the transmission of monetary policy in the euro area, assessing the impact of an … VAR model for the euro area over the period 1991Q1 to 2009Q2. Then, we extend the benchmark VAR model in order to include …

financial and sovereign debt crisis against the background of the institutional framework and financial structure of the euro …

The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable … affected the transmission mechanism of the single Euro area monetary policy during the crisis until the end of 2011. The …

) as well as the special ad-hoc questions on the LTROs conducted in mid-February 2012. We estimate a panel-VAR for the euro …