on bond yields declines with the maturity of the bonds, and that this impact is significantly lower when the shock stems …

market rigidities between the US and euro-area economies affect their resilience to temporary shocks. To address this issue … replicate the key properties of the US economy (as in the US Fed’s FRB-US model). To this model, features of the euro area … aspects of the functioning of the euro-area economy (as captured by the ECB’s Area-Wide Model). Most of the analysis is …

estimated using a Bayesian framework and data for the United States and the euro area. The main result is that cost channel …

This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro … area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro … over 60 countries.real effective exchange rates, including those of the individual euro area economies, and compares …