Europe is deeply integrated into global value chains and recent trade tensions raise the question of how European economies would be affected by the introductio
A fear about EMU was that in the absence of national currencies, country-specific shocks would result in greater current account divergences between member stat
Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that a traditio
We develop a simple approach to identify economic news and monetary shocks at a high frequency. The approach is used to examine financial market developments in
We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important mar
