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

- 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 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 …

Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand …

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 …

Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand …