dynamics of output, sovereign debt and financial stress in some euro area and other industrialized countries. …

Using the introduction of the euro as a natural experiment, we provide economy-wide evidence for money illusion based … effect between 2.4% and 7.6%. Compared to previous studies on money illusion in the course of the euro currency changeover …

particular financial stress in the euro area. A second aim is to construct summary indices on the conditions and level of stress … financial market conditions in the euro area, our results suggest that the data respond quite differently to fundamental shocks … financial sector in the euro area react fairly heterogonously to such shocks. We estimate several common factors and by means of …

We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our …-linearities and amplification mechanisms for some euro area countries. Thus, these strong amplification effects appear to be related …

We analyze the feedback mechanisms between economic downturns and financial stress for euro area countries. Our study … euro area countries. Moreover, linearity cannot be rejected for all countries over some extensive time period questioning …

We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our …-linearities and amplification mechanisms for some euro area countries. Thus, these strong amplification effects appear to be related …