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 …

This paper provides a comprehensive analysis of the interest rate pass-through of euro area monetary policy to retail … rates outside the euro area, contributing to the literature on the consequences of unofficial financial euroisation and on … all euro retail rates in euroised countries of central, eastern and south-eastern Europe (CESEE) are linked to the euro …

This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June … bank risk, we document several episodes of significant market fragmentation. While non-standard measures such as the … provision of long-term liquidity were successful in reducing tensions, considerable signs of market fragmentation remained at …

the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality … adverse political developments at home, a potential drawback is that it may provide weaker market discipline for domestic …

This paper presents first the estimation of a two-country DSGE model for the euro area and the rest …

We investigate the factors driving current account and monetary policy developments in the euro area. We estimate an … provide evidence for spillovers to the euro area from US preference shocks and US interest rate policy shocks …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below …

We propose a shadow-rate term structure model for the euro area yield curve from 1999 to mid-2015, when bond yields had …