Titlebook: Catching the Flu from the United States; Synchronisation and Filippo Mauro,Stephane Dees,Marco J. Lombardi Book 2010 Palgrave Macmillan, a

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The United States and the Euro Area: The Role of Financial Variables,xports contribute only 10% of its GDP growth. The stylised fact that the euro area lags US business cycles by a few quarters, which was discussed in detail in Chapter 2, can therefore be hardly justified, on account of rather limited trade openness.

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The United States and the Euro Area: What Do Structural Models Say About the Linkages?,es of the Atlantic. Such approaches however are agnostic on the reasons why certain movements occurred, which hampers their capacity to ascertain the nature and extent of the transmission mechanism from the United States to the euro area. For instance, an equally sized shock to US activity would hav

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The United States and the Euro Area: The Role of Financial Variables, the US would decrease its imports, and the associated reduction of European exports would therefore lead Europe to a period of lower growth. However, this direct trade channel can hardly account for the extent of observed spillovers, particularly as the 2007–9 global financial turmoil’s impacts on

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Business Cycle Synchronisation: The United States and the Euro Area,rade, financial and other links. In this chapter we systematically examine such a link to discover that it is very solid over time although possibly not so across episodes, that is, during upturns and downturns.

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nd to have a global nature and that Monetary Union only partially shelters the Euro area from its external environment, the US should fully assume its responsibility, minimizing shock transmission.978-0-230-28207-0