This paper investigates whether comovements between euro area equity returns at national and industry level have … changed after the introduction of the euro. By adopting a regression quantile-based methodology, we find that after 1999 the … degree of comovements among euro area national equity markets has augmented. By explicitly controlling for the impact of …

We assess whether the euro had an impact first on the degree of integration of European financial markets, and, second …, on the euro area term structure. We propose two methodologies to measure integration: one relies on time-varying GARCH … movements in both equity and bond euro area markets, suggesting that integration has progressed since the introduction of the …

themselves and with the euro zone. Within the framework of a factor model for market returns, we measure integration as the … between themselves and with the euro area. As for smaller countries, only Estonia and to a less extent Cyprus show increased … integration both with the euro zone and the block of large economies. In the bond markets, we document an increase in integration …

) model for the United States (US) and the euro area (EA). The main features of the new open economy macro-economics (NOEM …

evidence for the existence of a bank lending channel of monetary policy transmission in the euro area. In addition, and in … contrast to recent findings for the US, we find that in the euro area changes in the supply of credit, both in terms of volumes …

(2012) estimated on euro area data. It investigates to what extent forecasts of inflation, GDP growth and unemployment by …

We examine the transmission of monetary policy via the euro area investment fund sector using a BVAR framework. We find … search for yield among euro area investors. Search for yield behaviour by fund managers is also evident, as they shift away …

euro area as a whole and in its five largest countries. In a Bayesian VAR framework, the two credit supply shocks are … for business cycles. For the euro area, the explanatory power of the two credit supply shocks for GDP growth variations is …

We evaluate the ECB's monetary policy strategy against the underlying economic structure of the euro area economy, in …