One proposition that commands universal agreement is that the euro deserves a greater international role, justified by … briefly summarize, the evidence is that nothing of the sort has been happening: after twenty years of existence, the euro … role of the French franc and Deutsche mark before the euro’s inception. The relative weight of the dollar, on the other …

Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find …, a rise in the income elasticity after 2001 is taken into account. The break might be linked to the introduction of euro …

euro area. To control for international spillovers, global VARs are also considered. Differences in the results can provide … a measure on the impact of financial market integration. The specifications point to some impact of liquidity shocks on …