the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality …

We investigate which variables have supported growth in the euro area over the last 30 years. This is a challenging … the original euro area countries covering the period between 1990Q1 and 2016Q4. Using the Weighted-Average Least Squares … for all countries in the sample. An improvement in competitiveness matters for growth in the overall euro area in the long …

of the monetary union, have on the rest of the world. Disentangling euro area stress shocks and global risk aversion …) model with financial variables. We find that the effects of euro area stress shocks are significant not only for the euro … area but also for the rest of the world. Notably, an increase in euro area stress entails a slowdown of economic activity …

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two …-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area …