1 “... in Europe. Finally, the relevance of such measures to analysing inflation developments and monetary policy...”

2 “... section goes on to examine the simulated effects of changes of fiscal and monetary policy stance on output...”

3 “... as their limited weight means that the common monetary policy is more likely to be out of line with their cyclical...”

4 “... of coordinated structural reforms in the euro area as well as the need for an adequate monetary policy response...”