strong and from which they receive grants during downturns can improve welfare in individual euro area countries. The fund …

In the 24 years since its introduction, the euro has experienced a financial crisis, a government debt crisis, a global …

investigating the case of Montenegro, which is one of the two countries/regions that have unilaterally adopted the euro as the legal … tender. Montenegro's limited monetary policy options make the nature of business cycles important. The evidence presented … integration with the Eurozone. Moreover, there is little evidence for diversification or endogenous structural assimilation …

monetary unions. On specific points, a comparison is made between the eurozone and the CFA zone. The article then investigates …

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 …

market, in particular the business cycles, the construction, and market participants' expectations. Our research was … behaviour of the housing market may be explained primarily with business cycles, but state subsidies and mortgages also affect … supply of second-hand dwellings looks more flexible compared with that of new ones. However, the expectations of market …

housing prices that are orthogonal to business cycles movements. …