's prosperity. The paper focuses on political events in Italy over the past 35 years and asks whether the adoption of the euro in …'s financial markets throughout the 1970s, 1980s and 1990s. The introduction of the euro appears to have indeed played a major role …

lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation of the Euro and the … -- PART II: Some Empirical Evidence: Why European Treaties are a Negative-sum Game -- 11. The Cost of the Super-Euro: 2002 …

1 Introduction -- 2 What Went Wrong With the Euro?.- 3 Public Debt: Introductory Remarks -- 4 Was the Eurozone an … of the Euro? -- 12 On the Destabilizing Effects of Bailouts -- 13 On Sound Money and Credit Conditions -- 14 The Case of … Problem -- 18 Can There Be Stable Currencies After the Euro? -- 19 The Gold Standard and Free Banking -- 20 An Unexpected …

This sequel to the author's earlier well-received Euro On Trial, shows how European Monetary Union became a main engine …

Euro Crash diagnoses the three fatal design flaws in EMU as constructed by the Maastricht Treaty and analyses future …

We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by … Germany (or, alternatively, Portugal) and the rest of the euro area. Our main results are as follows. First, there are … (Portuguese) labor and services market would induce an increase in the long-run German (Portuguese) output equal to 8.8 (7 …

bank and auction rates in its open market operations in times of financial market stress. In a theoretical model, it is … market operations needed to absorb large stress levels in interbank money markets and hence contain central bank auction … rates. Finally, the paper analyses effects of the composition of open market operations of different maturities on auction …

This paper studies the relative pricing of euro area sovereign CDS and the underlying government bonds. Our sample … comprises weekly CDS and bond spreads of ten euro area countries for the period from January 2006 to June 2010. We first compare … the determinants of CDS spreads and bond spreads and test how the crisis has affected market pricing. Then we analyse the …

examines the impact of supply constraints on bank lending in the euro area with a special focus on this turmoil period. The …