Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and … sovereign debt crises exposed the limited resilience of the euro area’s economic structures. Economic growth was masking … underlying weaknesses in several euro area countries. With the inception of the crises, significant efforts have been undertaken …

. Evidence accumulated since 2003 suggests that nominal rigidities remain a prevalent feature of the euro area, with some … strong argument for a positive inflation buffer to “grease the wheels” of the euro area economy – also in order to avoid the … binding and particularly when productivity growth is low. Inflation differentials across euro area countries have tended to be …

From 2013 up to the launch of the ECB’s strategy review in January 2020, inflation in the euro area was low and over …-term inflation expectations, in combination with monetary policy in the euro area being constrained by the effective lower bound … decades, but were in themselves not the main drivers of low inflation in the euro area from 2013 to 2019. However, as they …

This paper assesses the macroeconomic implications of the Basel III finalisation for the euro area, employing a large …-scale semi-structural model encompassing over 90 banks and 19-euro area economies. The new regulatory framework will influence … the reform, namely a transitory reduction in euro area gross domestic product (GDP) and in lending to the non …

share of non-performing loans (NPLs) on the balance sheets of euro area banks. The first is the coverage expectations for … assessment of the package is analysed via a semi-structural model, the Banking Euro Area Stress Test (BEAST). The coverage …

Despite notable improvements in the labour market since 2013, wage growth in the euro area was subdued and … growth and provides comparable analyses on wage developments in the euro area as a whole and in individual EU countries. The … paper also proposes ready-to-use tools for cross-checking euro area wage growth forecasts based on wage Phillips curves …

The studies summarised in this paper focus on the economic implications of euro area firms’ participation in global … affected by international production sharing. The core conclusion is that GVC participation has major implications for the euro … the euro area, taking due account of data availability and constraints. …

A macroeconomic stabilisation function for the euro area - as envisaged in the Five Presidents' Report - plays a … on economic growth, macroeconomic stabilisation and synchronisation of the euro area business cycle, and review how they … the business cycle in the euro area, especially in some participating Member States. Yet, simulating the effects of such a …