countries (the UK, Canada, Australia, New Zealand and Sweden) and three non-targeters (the US, the Euro-Area and Switzerland …

franc post removal of the 1.20-CHF-per-euro lower bound in 2015 using export data representing a large share of the universe …

The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust …, reforming the euro successfully calls for a convincing high-level commitment to preserve the euro also in unexpected …

In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

The European Central Bank (ECB) took many measures to combat the eurozone’s rolling financial crisis. For providing … desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we … October 2009 and September 2012, the most intense phase of the eurozone crisis. Dollar liquidity clearly reduced stress in …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …