, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

This Paper focuses on the pass-through of exchange rate changes into the prices of imports made by euro area countries … industry-specific rates of pass-through across and within countries for all euro members. In the short run, pass-through rates …-through rates across industries and countries can be rejected. Differences exist across euro area countries in the degree that a …

The current account has always been a neglected variable in the management of the Euro area and in the assessment of … deficits. It then examines some peculiar features of the growth experience under monetary union in four Euro area countries …

This paper explores the dominant role of politics in decisions made by euro area governments during the crisis …. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are … costs across the euro area. The example of Cyprus is discussed, where political decisions resulted in a transfer of about …

We investigate the behaviour of gross capital flows and net capital flows for euro area member countries. We highlight …-deficit countries. Finally, we describe the reforms that can improve macro-financial stability across the euro area. …

before and after the introduction of the euro. Exceptions are a strong decline in real exchange rate volatility and a … EMU on standard business cycles statistics. However, further analysis reveals that the euro has changed the nature of the …

We study the determinants for the sovereign credit default swap (CDS) spreads of five Euro-area countries (Greece …, Ireland, Italy, Portugal, Spain) in the post-Lehman-Brothers period. We find that there are regime switches in the process of …