Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral … euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

convergence process. After solving the model, we derive the theoretical values for the euro area countries’ current account … smoothing, based on expectations of economic convergence, is driving the current account of the euro area countries over medium …

We test whether two key elements of the EU and euro area economic governance framework, the Stability and Growth Pact …

The Euro Plus Pact was approved by 23 EU countries in March 2011 and came into force shortly afterwards. The Pact …. The results also suggest that the measures in the Euro Plus Pact to restrain the growth of unit labour costs may not …

edition of the publication u0093Bond markets and long-term interest rates in non-euro area Member States of the European Union … this third edition has been extended to include all thirteen non-euro area EU member states and two accession countries …

economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …