-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force … behind daily US dollar - euro/DEM exchange rate developments in the period 1993-2003. The larger importance of US … macroeconomic news is at least partly explained by their earlier release time compared to corresponding German and euro area news …

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …

; (iv) differences across euro area countries, also vis-à-vis non-euro area countries. We show that supranational …