The paper provides and empirical characterization of fiscal policy in the euro area and in a group of twenty-two OECD … economies over the period from 1970 until 2007. Using the cyclically-adjusted fiscal balance we document that policy in the euro … policies. However, the component of the budget due to automatic stabilizers reacts stronger in the euro-area countries than in …

This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms … theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the empirical evidence. We … find that the adoption of the Euro has been associated with an acceleration of the pace of structural reforms in the …

We test whether and how the adoption of the euro, narrowly defined as the end of competitive devaluations, has affected … euro has been accompanied by a reallocation of activity within rather than across sectors. Since its adoption, productivity … since the adoption of the euro. Restructuring has entailed a shift of business focus from production to upstream and …

The possibility that the euro area might break up was being raised even before the single currency existed. These … scenarios were then lent new life five or six years on, when appreciation of the euro and problems of slow growth in various … unlikely, I argue here, that one or more members of the euro area will leave in the next ten years; total disintegration of the …

This paper tests whether trade in new goods is partially responsible for the pro-trade effects of the euro and provides …-firms trade model in a multi-country environment to structure our empirical model, we find that the euro had a positive impact on … the pro-trade effect of euro-usage on non-Euroland nations trading with euro-users. We confirmed the absence of trade …

countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … the introduction of the euro caused a structural change in this transmission. Although estimated point elasticities seem … to have declined since the introduction of the euro, we find little evidence of a structural break in the transmission of …

The accession countries to the euro area are increasingly binding their economic activity, external and internal, to … the euro area countries. One aspect of this phenomenon concerns the currency invoicing of international trade transactions … within exporter profitability. These considerations yield country-specific estimates about the degree of euro …

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 …

but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits … analyze the geography of international debt flows using multiple data sources and provide evidence that after the euro … euro area …

At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … between member countries whether or not members have also adopted the Euro. The Euro adoption as well as the anticipation of … the Euro adoption has minimal effects on market integration …