Gottschalk, Jan; Döpke, Jörg; Kamps, Christophe - 2001
This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by …: aggregate supply shocks, aggregate spending shocks, and monetary shocks. Applying a structural VAR to data for the eurozone and … sample from 1980 to 2000. However, historical decompositions reveal that fluctuations since the introduction of the euro in …