We study the determinants of sovereign bond spreads in the euro area since the introduction of the euro. We show that …

but also to adopt the euro at an early date. This is justified by the effort to avoid the danger of financial instability … in the period prior to euro-introduction. However, by trying to avoid this danger, the CEECCs, at least the (economically … der Euro-Einführung verringert wird. Dies kann allerdings die Beitrittsländer (zumindest die ökonomisch, institutionell …

We study how credit supply shocks in the US, the euro area and Japan are transmitted to other economies. We use the … effects on domestic and foreign GDP, compared to credit supply shocks from the euro area and Japan. Domestic and foreign …

, Gulde and Wolf (2003). Based on a basic autoregression estimation, the results indicate that a more flexible exchange rate …