account of the change in the circulation of euro banknotes and the use of cash in transactions during the pandemic; and (2) to …

The COVID-19 pandemic led to a sharp contraction of economic activity in the euro area (and worldwide). Its anatomy …

application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we … response. To do so, we use a unifted modelling framework: The Euro Area and the Global Economy (EAGLE) model. Furthermore …

classes and euro area countries. We label this dimension of policy "market-stabilization QE" to contrast it with conventional …, respectively. Although it moves euro area stressed-country sovereign yields down and German sovereign yields up as a result of the … reversal of ight-to-safety dynamics, it generates strong expansionary macroeconomic effects in all euro area countries …