When, about twenty years ago, the Euro was created, one objective was to facilitate intra‐European trade by reducing … transaction costs. Has the Euro delivered? Using sectoral trade data from 1995 to 2014 and applying structural gravity modeling …

This paper uses the order book for 2007 and 2008 of a key Euro area market maker in the unsecured money market to …

I analyze spillover effects from Euro area monetary policy shocks to thirteen EU countries outside the Euro area, i … variables. An expansionary Euro area monetary policy shock raises production in most non-Euro area countries. Somewhat larger …, where foreign demand effects are particularly strong. In addition, a Euro area monetary expansion leads to declines in …

-time recession probabilities for the euro area for the period from 2004 until 2013. The model outperforms not only the univariate …