demand and supply shocks to several European economies and those of Germany. The goals is to obtain dynamic measures of … members. Furthermore, results prove that this increasing synchronisation occurred mainly in peripheral countries. For supply …

pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area … countries? An SVAR analysis reveals that monetary stress has declined more in the euro area than in the euro areas’ doppelganger … euro becoming a dominant currency. …

This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over …

The fiscal consolidation measures adopted in many euro area countries over 2010-13 reduced excessive domestic fiscal …-based simulations for the euro area with a view to gauge the cross-country impact of the fiscal measures adopted over 2010-13. The paper …-border fiscal spillovers in the euro area. However, once the analysis takes into account the remaining channels (e.g. monetary …

cycles ; Euro ; Optimum Currency Area ; EMU ; Monetary Policy ; Exchange rate regime ; Cross-country spillovers …In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant … able to replicate key features of the data prior to and under EMU. We find that the euro has a strong bearing on the …

Bank (ECB) cannot outperform its national predecessors, as the euro area countries experience different business cycles yet …Twenty years after the introduction of the euro, this Weekly Report uses an empirical analysis to assess the … unable to counter long-term macroeconomic imbalances. To protect euro area countries from crises more effectively, priority …

housing prices that are orthogonal to business cycles movements. …