This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June …

factors on the other, may have led to gradual convergence in key fiscal variables across the euro area over the recent period … starting already in the 1970s. The alternative scenario is that the euro zone is still characterised by largely idiosyncratic … common euro area component and national features (i.e., idiosyncratic national cycles) using a dynamic factor analysis on …

In this paper we examine the sustainability of euro area public finances against the backdrop of population ageing. We … alternative indicators to quantify sustainability gaps for euro area countries. With respect to the policy implications, we assess … adjustment in a disproportionate way to future generations. For many euro area countries this implies that the medium …

The study looks at primary expenditure developments in the euro area, its three largest members and four “macro …