We assess the pattern of Euro Area financial integration adjusting for the role of "onshore offshore financial centers …" (OOFCs) within the Euro Area. The OOFCs of Luxembourg, Ireland, and the Netherlands serve dual roles as both hubs of … investment fund intermediation and centers of securities issuance by foreign firms. We provide new estimates of Euro Area …

The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and … some advocate the euro despite its economic problems because of its assumed favorable effects on European political …

. The main issue we focus on is how the euro may alter the responsiveness of consumer prices to exchange rate changes. Our … central conjectures is that the acceptance of the euro will lead European prices to become more insulated from exchange …-rate volatility, much the way U.S. consumer prices already are. We show that this has profound consequences for both the volatility …

conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty … Euro. " Unfortunately, most of these have potentially damaging side effects. One approach official Stage 2 offers of … contingent Euro forward contracts with value dates at the start of" Stage 3, allows a highly credible preannouncement of the …

. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset … pricing models. We use a synthetic Euro excess return along with a Yen excess return to assess country equity sensitivities to …

On the twentieth anniversary of its inception, the euro has yet to expand its role as an international currency. We …, the euro comprises a far smaller share than that of the US dollar. Furthermore, that share has been roughly constant since … 1999. By some measures, the euro plays no larger a role than the Deutschemark and French franc that it replaced. We explore …

, euro area and UK data points to a substantial deviation from that invariance prediction: expectations of interest rate …

article, we provide evidence suggesting a recent rise in the use of the dollar, and fall of the use in the euro, with similar …