The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several … exist in most Eurozone countries. Although the European Central Bank managed the euro in a way that achieved a low rate of … monetary union. The emergence of these problems just a dozen years after the start of the euro in 1999 was not an accident or …

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 …

We ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption … from expectations of euro adoption will further feed that boom. On the other hand the fact that interest rates have already … converged part way to euro-area levels (and more extensively than in earlier adopters that experienced a sharp fall in rates and …

euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …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 …

This study grounds the establishment of EMU and the euro in the context of the history of international monetary … Scandinavian Currency Union were conducted in the broader setting of an international monetary order, the gold standard. There are … international and the domestic role of a leading currency. In particular, there is the possibility for the EMU that low rates of …

others used the gravity model on a much smaller data set to estimate the effects of the euro on trade among its members. The … that were estimated in the euro's first four years hold up in the second four years? The answer is yes. Second, and more … complicated, what is the reason for the big discrepancy vis-à-vis other currency unions? We investigate three prominent possible …

Using new data on currency invoicing for Belgian firms, we analyze how firms make their currency choice, for both … staggered price setting with endogenous currency choice. Our structural specification provides a new test of the allocative … consequences of nominal rigidities, by estimating the treatment effect of foreign-currency price stickiness on the dynamic response …

attempted to manage a successful common currency when sub-national political entities were allowed to have separate currencies … and run independent monetary policies. Congress created a common currency that was too large to use in ordinary … transactions. Congress hoped this currency would be held for post-war redemption and would not circulate as money during the war …