This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of …-2012. The employed GARCH models show that CRA downgrade announcements negatively affected the value of the Euro currency and …

euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and … inflation uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly …

Using unit labor cost (ULC) data from Euro area countries as well as US States and German Länder we investigate …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …

between loan rates and the Euro OverNight Index Average (EONIA). Based on these findings, we allow for different nonlinear …

Low international competitiveness of a set of euro area countries, which have become evident by large current account … analyse the role of private restructuring and public structural reforms for the urgently needed readjustment of intra-euro … intra-euro area competitiveness. This implies that private restructuring and public reforms are rather than public transfers …

This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing … similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro … important nuances which may be of relevance for the analysis of euro adoption in Eastern Europe in general. …

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio …. Under realistic conditions, a debt conversion may be the less costly strategy for Greece and the euro area partner states. A … value-added of these calculations lies in a potential transfer to smaller euro area member countries. …

This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing … similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro … important nuances which may be of relevance for the analysis of euro adoption in Eastern Europe in general. …

losses. Thirdly, the ECB can draw on substantial reserves of the euro area national banks. …

After the dramatic rescue package for the euro area, the governing council of the European Central Bank decided to … euro area has stumbled into a perpetuation of unconventional monetary policies by the execution of the SMP. Of course, the … which tends to frighten potential private investors in euro area sovereign bonds: What exactly is the composition of the …