We assess whether the euro had an impact first on the degree of integration of European financial markets, and, second …, on the euro area term structure. We propose two methodologies to measure integration: one relies on time-varying GARCH … movements in both equity and bond euro area markets, suggesting that integration has progressed since the introduction of the …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral … euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

’s prosperity. The paper focuses on olitical 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 …

This paper provides the first empirical examination of the microstructure of the euro money market, using tick data … and their implementation, payment systems and private market structures) and its implications for intraday volatility …, quoting activity, trading volume and bid-ask spreads in the overnight deposit segment. Volatility and spreads increase right …

We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In … addition, the euro as a vehicle currency has overtaken the role of the US dollar in Norwegian imports. The substantial rise in …

Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is … accelerating growth. Panel estimations reveal a robust negative relationship between exchange rate volatility and growth for …

volatility risk, for dollar, euro and pound rates at a daily frequency, between October 1998 and August 2006. The measurement of … structure, more evident for dollar and euro rates than for pound rates. The volatility risk premium is strongly changing through …. The latter induce more sizeable changes on compensation for volatility risk of dollar rates than of euro or pound rates …

during crises depends on the tail properties of the fundamentals' distributions. We denote crisis linkages as either strong … crisis levels, the probability that the other currency breaks down as well vanishes asymptotically if the fundamentals … fundamentals. …

This paper analyses the link between economic fundamentals and exchange rates by investigating the importance of real …-time data. We find that such economic news in the United States, Germany and the euro area have indeed been a driving force … behind daily US dollar – euro/DEM exchange rate developments in the period 1993-2003. The larger importance of US …

role for macroeconomic fundamentals, policy actions and the public debate by policy makers. It finds that the euro exchange …This paper studies the determinants of the euro exchange rate during the European sovereign debt crisis, allowing a … rate mainly danced to its own tune, with a particularly low explanatory power for macroeconomic fundamentals. Among the few …