We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high …

This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two … functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic …

, financial system soundness) for ERM2, each candidate should be able to shadow the euro, with sufficient flexibility around the …

When the euro was introduced in 1998, one objective was to create an alternative global reserve currency that would … grant benefits to euro area countries similar to the U.S. dollar's 'exorbitant privliege': i.e., a boost to the perceived … quality of euro denominated assets that would increase demand for such assets and reduce euro area members' funding costs …

This paper explores the determinants of profitability across large euro area banks using a novel approach based on …

The monetary transmission mechanism in the euro area has been adversely affected by the recent crises. Using survey … data on thousands of euro area firms, we study factors that affect the access to finance of SMEs. We find that changes in …

euro area Bank Lending Survey to assess the effectiveness of macro-prudential policies in containing credit growth and …

Despite closing output gaps and tightening labor markets, inflation has remained low inthe euro area. Based on an … specific to the euro area (in comparison with the United States).Monetary policy needs to stay accommodative to help guide …