Nachfrageeffekte eines Abbaus des strukturellen Primärdefizits tendenziell in solchen Ländern milde ausfielen bzw. ausblieben, die Euro … nominal growth and the low interest rate environment, rather than strict austerity. The development in other euro member … Germany. We find empirically that negative consolidation effects are rather mild in those EU-member states that were euro area …

The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust …, reforming the euro successfully calls for a convincing high-level commitment to preserve the euro also in unexpected …

In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

bond markets and improved economic sentiment, as reflected in higher equity prices. In contrast, passive euro liquidity … provision and even active measures (policy rate reductions and bond market interventions) delivered modest results. Although …. Overall, the results point to the ECB’s limits in helping improve financial market’s sentiment …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have …

euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the …

currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro's impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …

We estimate that the euro has increased trade within the eurozone by about 26 per cent and trade between the eurozone …, indicating significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi …