of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade … imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness … within pairs of countries or in the overall trade competitiveness of individual countries. Intra-euro area imbalances also …

single market and the euro -- The economics of the single market (Harry Flam) -- Factor movements : FDI (Bent Sørensen …, Carolina Villegas-Sanchez) -- The euro as an international currency (Agnès Bénassy Quéré) -- Monetary and fiscal policy -- The … common currency : more complicated than it seems (Charles Wyplosz) -- Design failures in the euro area : can they be fixed …

currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro's impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …