Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the … process towards higher integration has been primarily a phenomenon of equity markets in the euro area and the United States. …

This paper develops composite indicators of financial integration within the euro area for both price-based and … in per capita real GDP growth in euro area countries. This correlation is found to be stronger the higher a country …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

This paper investigates whether comovements between euro area equity returns at national and industry level have … changed after the introduction of the euro. By adopting a regression quantile-based methodology, we find that after 1999 the … degree of comovements among euro area national equity markets has augmented. By explicitly controlling for the impact of …

application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we … response. To do so, we use a unifted modelling framework: The Euro Area and the Global Economy (EAGLE) model. Furthermore …

The main objective of this paper is to study whether the introduction of the euro had an impact on the degree of … and Eurozone risk) on Government bond returns, in the two groups of countries (EMU and non-EMU) in EU-15. Our empirical … evidence suggests that the impact of the introduction of the euro on the degree of integration of European Government bond …

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open …

responses even to a common shock. We augment a multi-country model of the euro area with search and matching framework that …