This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB … officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We …. In some cases there are effects of statements on the level of the euro-dollar rate. Efforts to talk up the euro have not …

balances, the common monetary policy may not be optimal for all of them. Euro area imbalances for potential output and for …

We assess the time varying features of fiscal sustainability in the euro area via revisiting the empirical relationship … between the primary budget surplus and the debt-to-GDP ratio. Focusing on a sample of 11 Euro-area countries between 1999Q1 …

playing-field in a market economy. Three other indicators reflect the standard u0093Musgravianu0094 tasks for government …

capital market participants. Secondly, we estimate the impact of these fiscal events on the interest rate swap spreads, which …