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 …

In order to study the costs/benefits of a monetary union between Germany and France, we attempt to go beyond a mere …, Germany would lose from any French participation in the setting of domestic monetary policy. By contrast, however, France …

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

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. …