When the euro was introduced in 1998, one objective was to create an alternative global reserve currency that would … grant benefits to euro area countries similar to the U.S. dollar's 'exorbitant privliege': id est, a boost to the perceived … quality of euro denominated assets that would increase demand for such assets and reduce euro area members' funding costs …

financial stability risk due to euroization contribute to deeuroization inasmuch as they make banking intermediation in euro …

size of euro capital markets and the existing roles of European currencies in international capital markets. The paper also … examines the euro’s impact on international securities markets, including the role of the ECB, the evolution of EMU securities …, as are the broader implications of the introduction of the euro for changes in international capital flows, international …

The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy … inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the …

several countries in the Middle East and North Africa (MENA). The elimination of intra euro-zone exchange rate volatility … resulting from the introduction of the euro is estimated to affect the production structure of MENA economies and shift their … exports from manufacturing to agriculture and services. At the country and industry levels, the impact of the euro is more …

This paper explores inflation determinants within the EU and implications for new members'' euro adoption plans. Factor …, changes in the nominal effective exchange rate, the quality of institutions, and the economy''s flexibility. Idiosyncratic …

regard to the prices of traded goods in small countries that have not adopted the euro and uses the Bayoumi-Eichengreen OCA … not adopted the euro have increasingly seen a change in the determinants of their traded goods prices. This seems to … contrast with the experience of small countries that adopted the euro. The results need to be interpreted carefully, given the …

increasingly integrated into the euro-zone area and that has a strong macroeconomic track record. We illustrate that neither the …