policies under the assumption of asymmetric shocks hitting the core and the periphery. We find that macroprudential policy is … able to partly make up for the loss of independent monetary policy in the periphery. Moreover, LTV policy seems more …

This paper examines business cycle synchronization in the European Monetary Union with a special focus on the core-periphery …

variables allow to create clusters of Eurozone countries and separate core countries from the periphery. Then, is developed the … argument that the convergence of nominal long-term interest rates in the periphery cluster countries, relative to the core …