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 … flows but reduces incentives for horizontal or market seeking FDI. Instead, horizontal FDI flows stemming from investor …

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the …. Spillover effects of aggregate market innovations have generally outweighed intra-sectoral spillover effects. Overall, the … process towards higher integration has been primarily a phenomenon of equity markets in the euro area and the United States. …

We examine the euro area monetary policy transmission process using post-1999 data, with two main questions in mind … data limitations, we concentrate on three blocks of transmission: the banking, interest-rate and asset-market channels. We …. On the financial-market channels, our evidence is somewhat weaker but suggestive. The interest-rate channel appears to …

Four years after the introduction of the euro, this paper provides an overview of the current structure and integration … of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure … with that of the United States and Japan. Using new and comprehensive financial account data, we also describe how the euro …

autarchic (i.e. fundamental) FX returns. The model is calibrated and tested on the Czech koruna/euro exchange rate in a setting … with seven Czech and euro area asset returns. …

This paper uses the euro cash changeover to test theories of finite informationprocessing capacities on the side of … effects are found in particular for goods with prices below one euro sold in mid-priced stores. The paper also finds that …

's financial system and product market regulations). -- Cross Mergers and Acquisitions ; Gravity Equation ; Euro … process. We identify the impact of (i) joining the European Union and (ii) joining the Euro on cross-border M&As. We show that …

casts doubts about the consequences of the Euro introduction for the European Single Market. Both indicators are estimated …This paper assesses the Euro's influence upon European trade by estimating two different indicators. The first is the … with its trade partners. This study of the Euro's influence by means of the Border Effect is a novelty in the literature …

analyze the role and impact of heterogeneities in euro overnight unsecured market. The empirical assessment of the functioning … against some significant events that occurred in the euro money market, such as the reform of the Eurosystem’s operational … of this market is based on the PIN which measures the ability of traders to interpret signals on the expected evolution …

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 …