This paper assesses the potential economic impact of Next Generation EU (NGEU), focusing on the euro area. Its findings … pandemic-induced crisis and longer-term modernisation of the euro area economy through their digital and green transitions …, fiscal stimulus and risk premium. Overall, NGEU may increase gross domestic product (GDP) in the euro area by up to 1.5% by …

assesses the macroeconomic impact on the euro area of different uses of NGEU, using a large dynamic stochastic general … equilibrium (DSGE) model of the euro area and global economy (EAGLE) that has been adapted to reflect the modalities of the NGEU …

within the euro area and investigates their magnitude using different models. In the context of Economic and Monetary Union … (EMU), fiscal spillovers are relevant for the accurate assessment of the cyclical outlook in euro area countries, as well … as in the debates on a coordinated change in the euro area fiscal stance and on a euro area fiscal capacity. The paper …

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