the bank has put its independence at risk. The bank’s vow to do “whatever it takes” to save the euro has added a second …

The euro area crisis is the main external factor threatening the Swiss economy. In 2010 and 2011, the Swiss franc was … rapidly appreciating against the euro, causing a drop in exports, losses for the tourism business and a rise in unemployment …. This paper gives an overview of developments in the euro area and explains the reasons for the strength of the franc, the …

The possibility that the euro area might break up was being raised even before the single currency existed. These … scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various … unlikely, I argue here, that one or more members of the euro area will leave in the next ten years; total disintegration of the …

propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions … countries? (2) can the classic' interest rate channel (IRC) alone, without capital market imperfections, explain these facts? (3 …) if not, is the bank lending channel a likely candidate to complete the story? We find plausible euro-area wide monetary …

This paper characterizes the transmission mechanism of monetary shocks across countries of the euro area, documents how … this mechanism has changed with the introduction of the euro, and explores some potential explanations. The factor …-augmented VAR (FAVAR) framework used is sufficiently rich to jointly model the euro area dynamics while permitting the transmission …

others used the gravity model on a much smaller data set to estimate the effects of the euro on trade among its members. The … that were estimated in the euro's first four years hold up in the second four years? The answer is yes. Second, and more … explanations for the gap between 15% and 200%. First, lags. The euro is still very young. Second, size. The European countries are …