This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data …

banks, because the Euro will have to be bought by these banks in exchange for assets which have been accumulated in the … bases such as France and the UK and it will be disadvantageous for countries like Germany, the Netherlands and Spain which …

This paper studies household financial choices in four euro area countries. The goal of the analysis is to understand … policy-induced variations in stock returns. Finally, monetary contractions have a larger impact on consumption in Germany and …

institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … responsibility for the euro's future. Germany's resilience and dominant size within the EU may explain its "muddling …This paper looks at the short history of the Eurozone through the lens of an evolutionary approach to forming new …

We study the mechanisms through which the adoption of the Euro delayed, rather than advanced, economic reforms in the … Euro zone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment … process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform …