We examine the euro area monetary policy transmission process using post-1999 data, with two main questions in mind … data limitations, we concentrate on three blocks of transmission: the banking, interest-rate and asset-market channels. We …. On the financial-market channels, our evidence is somewhat weaker but suggestive. The interest-rate channel appears to …

analyze the role and impact of heterogeneities in euro overnight unsecured market. The empirical assessment of the functioning … against some significant events that occurred in the euro money market, such as the reform of the Eurosystem’s operational … of this market is based on the PIN which measures the ability of traders to interpret signals on the expected evolution …

This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro … area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro … over 60 countries.real effective exchange rates, including those of the individual euro area economies, and compares …

estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate …. We find evidence for two distinct states in both regions. For the euro area, we find a regime which is correlated to the …

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 …