This paper assesses the Euro's influence upon European trade by estimating two different indicators. The first is the … with its trade partners. This study of the Euro's influence by means of the Border Effect is a novelty in the literature …, it reveals that the Euro's influence upon trade is not so clear as papers focused only on the Rose Effect claim. This …

This paper assesses the Euro's influence upon European trade by estimating two different indicators. The first is the … a country with its trade partners. This study of the Euro's influence by means of the Border Effect is a novelty in the … literature, it reveals that the Euro's influence upon trade is not so clear as papers focused only on the Rose Effect claim. This …

To what extent does the availability of credit depend on monetary policy? And, does this relationship vary with bank … characteristics? Based on a common source of balance sheet data for the four largest economies of the euro area over the period 1999 …-2011, we uncover three main regularities. First, the effect of monetary policy on bank lending is significant and heterogeneous …

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two …-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro … area countries (i.e. Germany, France, Italy, and Spain), with particular attention to the calibration of cross …

of the monetary union, have on the rest of the world. Disentangling euro area stress shocks and global risk aversion …) model with financial variables. We find that the effects of euro area stress shocks are significant not only for the euro … area but also for the rest of the world. Notably, an increase in euro area stress entails a slowdown of economic activity …

bank purchases of long-term debt (QE) at the lower bound are ineffective. If the portfolio balance channel is active, QE … degree of nancial integration, funded by private capital imports or through the central bank balance sheet channel. Moreover …

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

into two parts, before and after the birth of the euro. We study convergence in the first sub-sample by means of univariate … comprises Germany, France, Belgium, Austria, Finland and a higher inflation one with Spain, Netherlands, Greece, Portugal and …