of adjustment to these shocks are then compared to the results from US regional data. We find that the underlying shocks … are significantly more idiosyncratic across EC countries than across US regions, which may indicate that the EC will find … neighbors, experience shocks of similar magnitude and cohesion as the US regions. EC countries also exhibit a slower response to …

being integrated. In contrast, in the U.S. both listed and unlisted commercial banks profits converge to the same target …

and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market …

policy responses for prices and output that are similar to those generally reported for the U.S. However, investment … (relative to consumption) seems to play a larger role in euro area monetary policy transmission than in the U.S. We cannot …

. This leads us to distinguish an EC "core" (made up of Germany and its immediate neighbors) and an EC periphery (made up of …

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The … output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts …