predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental …

model the interdependencies between the business cycles in China and industrial countries, including the US, the euro area … effects to the US and the euro area responses are much lower and decrease due to rising inflation pressure. The analysis also … euro area. …

- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based … banking regulation. The panel estimation includes 706 banks from 15 Euro area member states and is conducted for the period …

euro area. To control for international spillovers, global VARs are also considered. Differences in the results can provide … a measure on the impact of financial market integration. The specifications point to some impact of liquidity shocks on …

Euro area countries and Japan are confronted with similar challenges. Potential output is on a falling trend in the … euro area, and the decrease started well before the financial crisis. In Japan, low output growth is a striking feature … economies can be traced to a weak evolution of TFP. Weak capital deepening is detected especially in the euro area. Driven by …

This paper examines the relevance of the Lucas critique for euro area money demand. Based on the money in the utility … results show that the Lucas critique can be refuted in case of euro area money demand for the period of quantitative easing …

paper re-investigates the stability properties of M3 demandin the euro area in the light of the recent economic crisis. A …