euro-area framework. The aim is to assess the propagation mechanisms of real shocks, focusing on the interconnections among … the north euro area and the south euro area. We incorporate theory-based long-run restrictions and examine the effects of … support for symmetric adjustment in the euro area; an expansionary policy of the north euro area and increased competitiveness …

This study grounds the establishment of EMU and the euro in the context of the history of international monetary … for a more expansive monetary policy. Such demands might arise in some parts or regions or countries of the euro area, but …

This study grounds the establishment of EMU and the euro in the context of the history of international monetary … for a more expansive monetary policy. Such demands might arise in some parts or regions or countries of the euro area, but …