Monetary policy transmission -- A new view: Implications of financial innovation for the bank lending channel -- Bank lending against the background of the recent crisis -- Empirical analysis: Determinants of bank lending during normal and crisis periods.

"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we assess the effect of EMU on structural reform and...