27/01/17
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Quarterly Report on the Euro Area. March 2007
(2 MB) 
The first issue in 2007 assesses recent economic developments and short-term prospects in the euro area, looking in particular at the predicting power of the yield curve. It also presents an economic analysis of the four policy recommendations addressed to the euro area as part of the 2007 Integrated Guidelines. A first focus section discusses the contribution of labour cost developments to price stability and competitiveness adjustment in the euro area. A second focus section looks into the possible causes of the decline of output growth volatility in the euro area since the 1970s.
The Quarterly Report on the Euro Area is written by staff of the Directorate General for Economic and Financial Affairs (DG ECFIN). It is intended to contribute to a better understanding of economic developments in the euro area and to improve the quality of the public debate surrounding the area's economic policy.
The views expressed are the author’s alone and do not necessarily correspond to those of the European Commission.
Comments on the report would be gratefully received and should be sent to: ECFIN-QREA@ec.europa.eu
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