The euro became an international currency when it was created two decades ago. However, the euro's internationalisation … peaked as early as 2005 and it was never comparable to the US dollar. Its international status declined with the euro crisis …, Europe is reflecting on how to promote actively the internationalisation of the euro, to help ensure its autonomy. But …

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 …

mitigated funding needs and reduced interbank stress, and has had a significant impact on sovereign bond yields in southern euro … particularly in the southern euro area. Underlying structural problems relating to banks, the macroeconomic adjustment and the euro …

This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental …

Irrespective of the euro crisis, a European banking union makes sense, including for non-euro area countries, because … banking union. From the point of view of non-euro countries, the draft SSM regulation as amended by the EU Council includes … applicability of national macro-prudential measures. Non-euro countries will also have the right to leave the SSM and thereby exempt …