Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using … business cycle coherence did not increase monotonically. The COVID-19 pandemic made that the signs of the output gaps of euro …

after the introduction of the euro. Exceptions are a strong decline in real exchange rate volatility and a number of changes … the European business cycle. In fact, we find the volatility of macroeconomic fundamentals largely unchanged before and … standard business cycles statistics. However, further analysis reveals thatthe euro has changed the nature of the cycle through …

?cant decline in real exchange rate volatility, 2) signi?cant changes in cross-country correlations, and 3) the volatility of … able to replicate key features of the data prior to and under EMU.We ?nd that the euro has a strong bearing on the … domestic shocks less important in accounting for the (unchanged) volatility of macroeconomic fundamentals. …

assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent … consequences jointly, and most are based on single country models. We analyze the special case of a shock restricted to the Euro …In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to …