Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model … decades in the euro area and the US. Ongoing business cycle convergence often detected in a country data is not confirmed at … the regional level. The degree of synchronization across the euro area is similar to that to be found for the US states …

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 …

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio … realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A value …-added of these calculations lies in a potential transfer to smaller euro area member countries. -- Euro area debt crisis ; debt …

consumer confidence indicator (CCI) reported by the EU Commission for the euro area and individual member states. Different … and the entire euro area (20 percent). For Germany and France the gains seem to be lower, but are nevertheless substantial …

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …