, consistently explained by central bank reactions and unfinished learning processes on the role of the euro. Furthermore, the US … ; Euro Area ; United States …

is constrained by the zero lower bound. Two main findings stand out. First, in all the countries we analyse (U.S., Euro …

mitigated funding needs and reduced interbank stress, and has had a significant impact on sovereign bond yields in southern euro … particularly in the southern euro area. Underlying structural problems relating to banks, the macroeconomic adjustment and the euro …

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …