... above the ECB rate). The Figure shows the nature of the closeness between the ECB rate and the Taylor recommended rate for Germany. The recommended rate is generally close to the ECB rate for the ... France, and the Netherlands. The implications of these differences were investigated specifically for each country, with references to how the data align with other observed trends and studies. The ... those predicted by the area-wide data.”54 I. The Netherlands Another core euro area country, the Netherlands, has had an average stress level magnitude of 2.37. However, there are some periods...