The taking into account of a period of break (thick break) makes it possible to correctly analyze the time series of the euro-dollar exchange rate. By retaining the posterior period with the Louvre agreements, but by eliminating the first years from existence of the euro, and until today, one...

Monetary conditions and economic activity in the euro area. With a VAR model, we show that the economies of the euro area are strongly dependent on the monetary conditions (short term interest rate, exchange rate). In the long-run, the industrial activity of the area enters in a co-integrating...