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. …

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