We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … approach uses a compositional multinomial logit model, in which currency choice depends on the characteristics of both the … currency and the country. We use unique quarterly panel data of Norwegian imports from OECD countries for the 1996-2006 period …

foreign currency bank lending. We show that the patterns differ sharply across foreign currencies. The Swiss franc is used … measures aimed at foreign currency lending have a clear impact on lending to residents. Our analysis shows that not all foreign …

Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive …, with more than half of transactions in our sample invoiced in neither sterling nor the exporter's currency. We then study … the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find …

asymmetric equilibrium featuring household specialization can arise. Examples where the asymmetric equilibrium is welfare …