trade, production and financial market linkages - has engendered several macroeconomic implications for the euro area. This … paper focuses on assessing the key impacts on the euro area macroeconomy through an analysis of prospective channels … openness of the euro area in terms of both trade and capital flows as well as the global reduction in transportation and …

developments in the digital economy and their possible impacts across the euro area and European Union (EU) economies. It also … transmission; and (v) structural and other policies may need to be adapted for the euro area and EU countries to fully reap the …

Structural policies in the euro area are of great interest for the Eurosystem, particularly as they can support the … opportunities for enhanced structural policies in EU and euro area countries which can yield substantial gains by boosting long … Member States, bringing the euro area closer to the requirements of an optimal currency area and improving the transmission …

paper tests this hypothesis using a dataset for the 17 euro area countries over the period 1996Q1-2013Q4. The results … suggest that euro area unemployment is particularly sensitive to movements in the consumption component of GDP, while …

The global financial and economic crisis – including two euro area recessions in 2008-2009 and 2011-2013 – has had a … heavy impact on euro area labour markets. A notable feature throughout the crisis has been the considerable degree of cross … persisting increases in unemployment. This paper analyses the impacts of the crisis on euro area labour markets, paying …

This paper reviews potential output from a euro area perspective by summarising the developments according to … structural reforms implemented since 2007/08, further structural reforms are needed to support euro area potential growth …

Chapter 1 provides an overview and assessment of the price competitiveness and export performance of the euro area and … the larger euro area countries, as well as an evaluation of how standard equations have been able to explain actual export … developments. Chapter 2 carries out a constant market share analysis for the euro area and thereby sheds light on the reasons for …

The aim of this paper is to improve our understanding of the key determinants of intra- and extra-euro area imports …. Using a simultaneous equation estimation framework, and pooling the data across nine euro area countries as an approximation … of the euro area, we estimate intra- and extra-euro area import demand functions and impose various restrictions within …

shocks on the euro area, and highlights the complexity of the various direct and indirect mechanisms. We describe the main … channels by which potential spillovers from external economic shocks may affect the euro area. Although the evidence is unclear … the "external dimension" of the euro area has a complex impact on economic developments in the euro area, while the …

This paper estimates an import demand function for the euro area vis-a-vis its main extra-area trading partners which … takes into account the possible impact of both intra- and extra-euro area exchange rate uncertainty. Our theoretical model … captures various mechanisms by which exchange rate volatility may influence the demand for extra-euro area imports. If …