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, leaving the eurozone extraordinarily vulnerable to renewed stresses. In fact, as the reforms agreed to so far have failed to …-central bank axis of power that exists at the center of control in sovereign states. Since the eurozone is not actually a sovereign … public debts is involved either. The Euro Treasury would be the means to pool future eurozone public investment spending …
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Against the difficult background of analysing aggregated data in this paper core inflation in the euro area is estimated by means of the structural vector autoregressive approach. We demonstrate that the HICP sometimes seems to be a misleading indicator for monetary policy in the euro area. We...
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Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...
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We study the impact of the recent cost-of-living crisis on European households using detailed data on individual consumption, income and wealth. We account for the various channels through which inflation affects individual households, and for the monetary and fiscal policy responses to the...
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