previsión y seguimiento de la convergencia (relativa y absoluta) del nivel de precios en la zona euro para entender la …

the following subject headings: presentation of Annual Reports, monetary policy, membership of the euro area, financial …

Using the recursive unit root test by Phillips et al. (2011) we show that the Target balances of the German Bundesbank … countries, and the German Target claims increased significantly. Using the new test to identify multiple explosive periods by … Phillips et al (2013) we find that the German Target claims also became explosive in autumn 2007 when the interbank market …