This paper examines the degree of fragmentation in the Euro overnight unsecured money market during the period June …

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 paper estimates a fiscal reaction function (FRF) framework for euro area countries and derives a novel approach to … measure fiscal fatigue. As in previous studies, we find evidence that euro area sovereigns abide, on average, by (weak … specifications is weaker for our euro area sample. …

stabilisation considerations. This paper provides simulation analysis for the euro area and individual countries with a view to …

factors on the other, may have led to gradual convergence in key fiscal variables across the euro area over the recent period … starting already in the 1970s. The alternative scenario is that the euro zone is still characterised by largely idiosyncratic … common euro area component and national features (i.e., idiosyncratic national cycles) using a dynamic factor analysis on …