a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the Euro during 1999 compared to the aggregate of Euro predecessor currencies, net of intra-Euro … examined empirically. It turns out that for almost all important market segments for which data are available, the Euro …

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

It is widely recognised that the "one-size-fits-all" monetary policy of the euro-zone is a potential problem. How much … competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to … choice may lie between closer political union and a break-up of the euro-zone. …

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 convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional … substantially across euro area countries and even been eliminated over time, thus underlining not only market integration but also …

This paper compares the behavior of Euro-Area (EA) banks’ credit and reserves with those of US banks following …

developments in the euro area since the start of EMU. …

for the euro area in order to study the features of financial intermediation over the business cycle. We find that …