eingeführt, so erhöht sich der Außenhandel mit Deutschland um weitere 70 Prozent. Es gibt jedoch keine Anzeichen dafür, dass das …

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not … frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly … half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro …

statistically equal only in the early years of the EMU if we consider the four countries. If we consider Germany, France and Spain …

We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely …