European Monetary Union (EMU) to the ten countries that obtained EU membership in 2004. One-way and two-way error component …. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and …

analysis suggests that, given EMU’s present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process … with a future moral hazard problem. Based on our analysis, we suggest that the EMU’s institutional design could be improved … processes as well as the conditions and parameters on which the scope and limits of fiscal redistribution in EMU depends. In …

the euro-dollar exchange rate, within a three-country, three-currency portfolio model. Our static model shows that the … euro-dollar rate, whatever the exchange-rate regime of China. Moving to a dynamic, stock-flow framework, we show that the …

We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … home currency invoicing after the introduction of the euro. In addition, the euro as a vehicle currency has overtaken the … role of the US dollar in Norwegian imports. The econometric analysis shows a significant effect of euro introduction above …

the face of asymmetric shocks. Exit from the euro area is to regain rapidly international competitiveness. Exchange rate …

This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between … the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is … constructed. It is analyzed how monetary and fiscal rules affect the adjustment dynamics in the individual euro-area countries …