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Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using … business cycle coherence did not increase monotonically. The COVID-19 pandemic made that the signs of the output gaps of euro …
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The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
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Die Einführung des Euro stellt eine wesentliche Änderung der geldpolitischen Rahmenbedingungen einer Anzahl …
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This paper uncovers the response pattern to global shocks of euro area countries' real effective exchange rates before … and after the start of Economic and Monetary Union (EMU), a largely open ended question when the euro was created. We …-EMU responses of euro area countries to global risk aversion shocks have become similar to those of Italy, Portugal or Spain before …
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