Euro area

Lessons from the Bank of Japan for the euro area

It was feared that after the consumption tax hike, the inflation expectations would be dampened too much and the Bank of Japan would miss its target.

Eurosystem collateral policy and framework: Was it unduly changed?

This Policy Contribution was prepared for the European Parliament Committee on Economic and Monetary Affairs. It argues that the changes in the collat

Does Money Matter in the Euro area? Evidence from a new Divisia Index

The purpose of this paper is to examine the possible role of money shocks on output and prices in the euro area.

Are the Eurozone’s fiscal rules dying?

How I learned to stop worrying about TARGET2 and love the ECB

There always comes a time we have to face our past. For economists, it often happens when updating data long left sitting in a remote corner of o

EU to DO 2015-2019

Memos to the new EU leadership.

For a Euro Community

We are absolutely convinced that a new momentum can and must be given, and a new milestone reached. The time is now. Citizens who wish to support the

Comfortably numb: ESM direct recapitalization

On one hand, the crises has eased over these two years, and the sense of urgency for this instrument in the eyes of both policy makers, markets and ex

The threat of low inflation in the eurozone

Policy complacency is the greatest threat to euro area growth

On 25 February 2014, the European Commission released its Winter 2014 Forecast document. After a double-dip recession and two consecutive ye

The troika and financial assistance in the euro area

The Troika and financial assistance in the euro area: successes and failures

This study was presented to the ECON committee of the European Parliament.It provides a systematic evaluation of financial assistance for Greece, Irel

Non-public testimony on the Troika's working and the effectiveness of financial assistance programs in the euro area.

The mismatch between euro-area and country-specific recommendations