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 …

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. …

value chains, and (iv) market power. In the existing literature there is also a robust evidence across models showing that …

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

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 …

-to-consumer ecommerce for prices and inflation in the euro area. It highlights three key results. First, whether online prices and inflation … low, these transitory effects will likely persist at the euro area level for several years. Third, online prices change … more frequently than offline prices. This might lead to greater price flexibility overall as online trade gains market …