In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area …

We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by … Germany (or, alternatively, Portugal) and the rest of the euro area. Our main results are as follows. First, there are … in seven years. Second, cross-country coordination of reforms would add extra benefits to each region in the euro area …

The objective of this paper is to explore the consequences of the correction of Euro area trade imbalances on real … Obstfeld and Rogoff (2005), since the adjustment takes place within and outside the Euro area. Both types of adjustments are … Euro area countries. With respect to the surplus country (Germany), countries running a trade deficit (Spain, Italy) are …

A balanced current account in the euro area has disguised sizeable net lending imbalances at the country level …

from September 2008 until spring 2010; and the euro area sovereign debt crisis from spring 2010 to the current period … the euro area. It has brought unprecedented challenges for the monetary union and triggered extraordinary adjustments in … both monetary policy and institutional arrangements at the euro area level. The purpose of this article is to outline the …

. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in …

A small labour market model for the six largest euro area countries (Germany, France, Italy, Spain, the Netherlands … a policy experiment with the objective of investigating whether euro area countries differ in the labour market …

caused by euro area tax structures. Our analysis shows that lowering tax distortions to levels prevailing in the United … have positive spillovers to the euro area's trade partners, bolstering the case for tax reforms from a global perspective …

We compare real-time density forecasts for the euro area using three DSGE models. The benchmark is the Smets …

this end, labour demand estimates are presented for the five largest euro area countries at the aggregate level and for …