-oil import price shocks to euro area inflation at different stages of distribution (import prices, producer prices and consumer … large fraction of the variance in all price indices. They seem to have contributed largely to inflation in the euro area … since the start of the European Monetary Union. The results on the size and the speed of the passthrough in the euro area …

including a global liquidity aggregate. The impulse responses obtained show that a positive shock to extra-euro area liquidity … money ("global liquidity") on the euro area. We estimate structural VAR models for the euro area and the global economy … leads to permanent increases in the euro area M3 aggregate and the price level, a temporary rise in real output and a …

the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business …, Japan and the euro area appear quite distinct. Documenting and comparing such international business-cycle features can aid …

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the … process towards higher integration has been primarily a phenomenon of equity markets in the euro area and the United States. …

We examine the euro area monetary policy transmission process using post-1999 data, with two main questions in mind …

Four years after the introduction of the euro, this paper provides an overview of the current structure and integration … of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure … with that of the United States and Japan. Using new and comprehensive financial account data, we also describe how the euro …