for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital … in the euro area. Using the estimated model, the paper also analyses the output (real interest rate) gap, defined as the …

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy …

the effects of monetary policy shocks on wages and employment in the euro area. The use of a large data set comprising … country, sectoral and euro area-wide data allows us to better identify common monetary policy shocks in the euro area and …

-up are the most important source of inflation variability in the euro area. This article shows that an empirically plausible …