Since its creation the euro area suffered from imbalances between its core and peripheral members. This paper checks …

major source of cross-country heterogeneity in the eurozone. We develop a two-country model with incomplete international …

account deficits of countries stabilizing their exchange rate against the euro (euro periphery). Meanwhile, the aggregate … current account balance of the euro area has been by and large balanced. The paper finds that changes of world current account … analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created …

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 …

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 examines the degree of fragmentation in the Euro overnight unsecured money market during the period June …

characteristics? Based on a common source of balance sheet data for the four largest economies of the euro area over the period 1999 …

the European Central Bank (ECB) reveal greater IRR exposure. These findings advance the debate on the impact on euro area …In the current low interest rate environment in the euro area there is potential for a sudden increase in interest … rates and heightened interest rate risk (IRR). By using a sample of 81 euro area banks during the period 2014Q4-2018Q1 and a …

The objective of this paper is to explore the consequences of the correction of Euro area trade imbalances on real … Obstfeld and Rogoff (2005), since the adjustment takes place within and outside the Euro area. Both types of adjustments are … upon Pappadà (2011). ECB (CompNet) data are used to measure the differences infirm size and productivity dispersion across …

invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In …We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … countries for the 1996-2006 period. We find that eurozone countries have substantially increased their share of home currency …