Results 11 to 20 of about 110,328 (315)
The euro introduction and noneuro currencies [PDF]
Applied Financial Economics, 2005 This article documents the existence of large structural breaks in the unconditional correlations among the US dollar exchange rates of the British pound, Norwegian krone, Swedish krona, Swiss franc and euro during the period 1994 to 2003. Using the framework of Dynamic Conditional Correlation (DCC) models, we find that such breaks occurred both at the
Dick van Dijk +2 more
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Federal Reserve Bulletin, 1999 The introduction on January 1, 1999, of the euro--the single currency adopted by eleven of the fifteen countries of the European Union--marked the beginning of the final stage of Economic and Monetary Union and the start of a new era in Europe. The creation of a single currency and a single monetary policy has provided both extraordinary challenges and
Carol C. Bertaut, Murat F. Iyigun
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European Journal of International Relations, 1999 This article attempts to explain the variation in post-Maastricht elite attitudes toward the single currency in Western Europe. It concentrates on the British reluctance to join the single currency in the first round as well as the French and German continuing support for it.
RISSE, Thomas +3 more
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Making the Euro Viable: The Euro Treasury Plan [PDF]
SSRN Electronic Journal, 2015 The euro crisis remains unresolved and the euro currency union incomplete and extraordinarily vulnerable. The euro regime's essential flaw and ultimate source of vulnerability is the decoupling of central bank and treasury institutions in the euro currency union.
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Lost at Sea: The Euro Needs a Euro Treasury [PDF]
SSRN Electronic Journal, 2013 The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed. Recent reforms have failed to turn the dysfunctional euro regime into a viable one. The investigation is informed by the "cartalist" critique of traditional "optimum currency area" theory (Goodhart 1998).
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The Euro Debt Crisis and Germany’s Euro Trilemma [PDF]
SSRN Electronic Journal, 2012 This paper investigates the causes behind the euro debt crisis, particularly Germany’s role in it. It is argued that the crisis is not primarily a “sovereign debt crisis” but rather a (twin) banking and balance of payments crisis. Intra-area competitiveness and current account imbalances, and the corresponding debt flows that such imbalances give rise ...
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The Euro and Structural Reforms [PDF]
Review of Economics and Institutions, 2008 This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the ...
A. Alesina +2 more
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Panoeconomicus, 2010 It is argued the current eurozone crisis is neither new nor surprising. Fiscal discipline in the eurozone was weak from its creation in 1999, but ongoing economic prosperity limited the damage. Economic recession deepened the impact of crisis on public finance and pushed some eurozone countries to the edge of bankruptcy.
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Making the ECB the central bank of a non-federal coalition of states
PSL Quarterly Review, 2015 The recent crisis has shown that the inconsistent design of the Euro area had previously produced financial convergence, not integration. The crisis increased fragmentation thus further exposing the limits of the single monetary policy.
Mario Tonveronachi
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The Euro Sovereign Debt Crisis and the Built-In Instability of the Euro [PDF]
SSRN Electronic Journal, 2013 This policy paper aims at presenting the key facts related to the Euro sovereign debt crisis that occurred in the interval 2010-2012. It points out some main coordination failures that are at the origin of the crisis, and comments on the effectiveness of various stabilization measures undertook by governments and the EU institutions.
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