Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances …. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants …

no evidence of a euro effect on trade flows among early euro adopters up to the year 2002. Second, this finding is robust … to extending the sample period to incorporate data up to 2013, covering five additional euro accessions. Third, while … there is no robust evidence of a euro effect, there is evidence that intra-EU trade flows have expanded faster than the …

It is often disregarded that the euro is first of all a public good based on common institutions such the European …

This paper provides an update on the exchange rate pass-through (ERPT) estimates for 12 Euro area (EA) countries. First …-through elasticities, we find very weak evidence of a decline around the inception of the euro in 1999. However, our results reveal that a …

We estimate that the euro has increased trade within the eurozone by about 26 percent and trade between the eurozone … significant and substantial effects on the extensive margin of trade. The euro effects were concentrated to semi-finished and …

This paper examines the demand and supply shocks observed in the present Eurozone member states and those observed in … some neighboring countries. The analysis is based on recent data and each Eurozone member country is compared with an … aggregate series corresponding to an area made up of the entire Eurozone minus the country being compared. The results of the …

introduction of the Euro in 1999 are then examined introducing a dummy variable. Overall, it appears that post-1999 steady … determined endogenously, the adjustment is found to have taken place before the introduction of the Euro …

, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … the introduction of the euro …

In this paper, we study the aggregate and distributional implications of a smaller public sector in the euro area. By a … model numerically using fiscal data from the euro area and then do a number of policy experiments. The general message is …