Arnold, I.; Els, P.J.A. van; Haan, J. de - de Nederlandsche Bank - 2002
, point to strong differences among individual euro area countries. On the question of whether or not a central bank should … European Central Bank (ECB). Causality tests indicate that nominal equity prices have predictive power for ECB policy … model simulations suggest that this would not have led to a significantly different macroeconomic performance in the euro …