euro area and for supervising all euro area banks in order to ensure their safety and soundness, some directly and some …

. 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 …

perspective. This approach employs a large-scale semi-structural model reflecting the dynamics of 91 significant euro area banks … and 19 euro area economies and is presented through an assessment of the stance evolution for the aggregate euro area … economy and for the individual euro area countries. Our results uncover mild tightening of the macroprudential policy stance …

first is the global financial crisis in 2008-09, and the second is the euro area sovereign debt crisis in 2010-12. Both … sequence of financial reforms has improved the sector's ability to deal with major macro-financial shocks at the EU/euro area …