This paper presents a novel approach to investigate and model the network of euro area banks' large exposures within … risk of the euro area banking system based on bilateral linkages. We then develop a Contagion Mapping (CoMap) methodology … contagion which can be used to calibrate bank-specific capital and liquidity requirements and large exposures limits. We find …

stress indicator with a specific focus on the euro area. As far as we know, our indicator is the first attempt to develop an … indicator of financial stress with a specific focus on the euro area. It is also the first to exploit the information contained … in central bank communication to help measure stress in financial markets. For use in real time, the indicator is able to …

This paper provides evidence on whether the creation of the euro has changed the way global turbulences affect euro … area and other economies. Specifically, it considers the impact of global shocks on the competitiveness of individual euro … over 60 countries' real effective exchange rates, including those of the individual euro area economies, and compares …

This paper studies the determinants of the euro exchange rate during the European sovereign debt crisis, allowing a … role for macroeconomic fundamentals, policy actions and the public debate by policy makers. It finds that the euro exchange …

'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 …

Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is …

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area …

prospective membership of the EU plays a decisive role in the choice of the euro as invoicing currency. The role of the euro as … differentiation favour vehicle pricing in U.S. dollar. An increase of euro invoicing due to higher exchange rate volatility supports … the role of the euro as vehicle currency, however. High market power defined as the share of a country's total exports to …

In this paper we investigate the impact of the euro integration process on the drivers of FDI inflows. We show … bilateral gravity models of FDI inflows into euro area countries, we show that the euro facilitates intra-euro area vertical FDI … countries located outside the monetary union increase. Such flows are however not more likely be directed towards euro area …