alleged inflationary effects of the new currency. In Italy, as in the rest of the euro area, survey-based measures signaled a …

This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U …

, domestic-currency bond market. Bond holders suffer from inflation and could be a potent anti-inflationary force; I ask whether … economically and statistically significant; it is also insensitive to a variety of estimation strategies, including using political …

This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the … East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to … countries with sovereign monies, and to regions within nations. We ask: are countries within international currency unions as …

Intra-day interest rates are zero. Consequently, a foreign exchange dealer can short a vulnerable currency in the …, buyers of the vulnerable currency must be compensated on average with an intra-day capital gain, as long as no devaluation …