This paper estimates a fiscal reaction function (FRF) framework for euro area countries to test for the impact of … negative - at somewhat above 4% for the sample of mature euro area economies (EA-12, first twelve EA members) and around 6% for … the whole sample of euro area countries in 2022 (EA-19). Using an alternative measure of "inflation surprise" (available …

This article examines the impact of the macroenvironment on enterprises in euro-area countries over the period 2006 …

effects of high inflation on fiscal accounts in the euro area. Relying on the wealth of expertise in the Eurosystem - within … the Working Group on Public Finance - it documents spending indexation arrangements in all euro area countries. Thanks to …

euro area, we employ detailed product data panels to study the consequences of trading-partner geopolitical risk shocks on … when the shocks hit countries that exhibit greater geopolitical distance to the US and the euro area, or when geopolitical … China. We find that US and euro area imports from non-Chinese trading partners are also affected by such shocks, which also …