Greek borrowing from the eurosystem, for as long as Greece stays in the euro.Eurozone governments would only escape from … to an 86% increase in the Greek issue of euro banknotes.If EU/IMF loans to Greece cease, they will be replaced by larger … payments out of Greece, it would imply that cross-border payments by means of euro banknotes would also have to be restricted …

-time experiment shows that real M1 can improve output gap estimates for euro area data. For many periods the cyclical component of …

The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational …

In this paper, different Divisia monetary aggregates for the euro area are constructed over the period from 1980 to … should have an important role in the conduct of monetary policy in the euro area. … es erhebliche Kontrollfehler. Zusammenfassend unterstützt die Studie die Auffassung, dass die Geldmenge eine wichtige …

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

nominal money and the price level in the euro area are integrated of order two. This is confirmed by applying tests on double … ; Double unit roots ; I(2) model ; euro area money demand …