current account divergences between member states. This paper finds that divergences across euro-area countries are smaller …

simulations using a two-country DSGE calibrated to the euro area and its Eastern European neighbors reveal that a conventional …

SJAASTAD MODEL -- IV. DATA -- V. ESTIMATION RESULTS -- VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO …

effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX … equity prices increase by around 1.75% in euro area countries highly exposed via banking linkages to countries whose …

We examine spillovers from ECB's TLTROs on European countries outside the euro area. Using individual banks' balance … rates and 0.4 bps reduction in lending rates of foreign subsidiaries. This underscores the need to factor euro area monetary … policies into policy settings outside the euro area …

This paper provides new estimates of Okun's unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro … the euro periphery, we find product market regulation as playing a major role in explaining the significance of Okun's law …

two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from … joining the euro. We evaluate two alternative scenarios. In the first one, we consider a reduction of trade costs that occurs …