1 “... the output gap. We estimate a two-region DSGE model for the euro area, with financial frictions...”

2 “... factors. We also examine the role of different rigidities and find that labor market frictions are crucial...”

3 “... two-country model of the euro area. The model includes real, nominal and financial frictions...”

4 “... is extended by including a housing sector, financial frictions, foreign demand for the domestic housing stock...”

5 “... provide stronger amplification effects to all type of shocks than financial frictions do. Finally, we show...”

6 “... declines. We use a two-country model with financial frictions and fiscal policy to study these facts. We...”