This paper investigates which shocks drive asynchrony of business cycles in the euro area. Thereby, it unites two …. Results reveal that differences in the GDP dynamics in several peripheral countries compared to a euro zone core are triggered …

This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR … model. We find that a union aggregate systemic risk shock results in a sharp decline in output, with two thirds of the …

assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent … consequences jointly, and most are based on single country models. We analyze the special case of a shock restricted to the Euro … for all countries over a period of roughly a year following an uncertainty shock. Moreover, equity prices, short …