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

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 …

This paper investigates the role of institutions for labour market performance across European countries. As … transfer system and active labour market policies. As cointegration between employment, output and factor prices is detected … institutional database should be improved in order to arrive at more definite policy conclusions. -- EU employment ; labour market …

convergence for 41 euro area regions and 48 US states. By looking at the regional dimension, a larger information set can be … states and comparable euro area regions, the perspectives of a common monetary policy in Europe can be assessed. The US … provides a natural benchmark in this respect. Both the US and the euro area share similar socio-economic characteristics …

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. …

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

- 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 …