Turmoil in euro area once more forces EU authorities to rethink future of further monetary integration. One of the most … costs of participation in monetary union. The second is that there is theoretical dispute within the optimum currency areas …

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an … application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we … focus on the size and the direction of international spillovers both from the shock itself and from the ensuing fiscal …

synchronization patterns in business cycles. The Eurozone has converged to a stable lower level of dispersion across business cycles …