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 …

nineties and the puzzling decline of the euro during its virtual existence to changes in the demand for deutschmarks in eastern … the dollar and the weakness of the euro reflect the prosperity of the US and the weakness of the European economy on both …

, which is closer to European than the US is in its labor market and fiscal institutions. Europe's (and to some extent Canada … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …

Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market …

We analyze the role of labor mobility in cushioning labor demand shocks in the Euro Area. We find that foreign born … the regional level. Additionally, we compare Euro Area mobility to that of another currency union, the US. We find that … the population to employment elasticity estimated for foreign-born persons is similar in the Euro Area and the US, while …

As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is … no country face a deflation. This minimum aggeragate inflation rate is 0.94% in the euro-11 countries and 1.13% in an …

This paper reconsiders the 1992-3 crisis in the European Monetary System in light of its emerging market successors … market crisis as much as they do the moderate effects of the typical industrial-country event of its kind to take place in an …

banks, because the Euro will have to be bought by these banks in exchange for assets which have been accumulated in the …