convergence for 41 euro area regions and 48 US states. By looking at the regional dimension, a larger information set can be … states and comparable euro area regions, the perspectives of a common monetary policy in Europe can be assessed. The US … provides a natural benchmark in this respect. Both the US and the euro area share similar socio-economic characteristics …

Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

EU common market and expanding infrastructure—which also fits into the framework of the New Silk Road Initiative. An … different forms of market access, the determinants become much more specific. A high industrial share, sound institutions, and …

, this paper re-investigates the stability properties of M3 demand in the euro area in the light of the recent economic …

We analyse the relationship between the debt to GDP ratio and real per capita GDP growth for the euro area members by … relevant for the euro area. This suggests that the participation in monetary union might entail an additional risk for its …

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio …. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A … value-added of these calculations lies in a potential transfer to smaller euro area member countries …