using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU … substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since …

The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact …

investors preferred portfolio assets of countries where the central bank gave relative importance to money. As for EMU, once … among euro area countries have increased due to the catalyst effect of EMU. Country's shares in the world market portfolio …, home bias, initial degree of misallocation across countries, past returns, diversification benefits and EMU can explain 35 …

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much … political economy channel of EMU as the monetary union implies that member states had to transfer or at least curtail their … policy autonomy in several areas, such as monetary policy and fiscal policy. The paper shows that EMU has helped reduce the …

Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous … structural reform. However, it is much less clear whether progress can be ascribed to EMU membership. To explore further the …

from 6 euro area countries, spanning several years before and after the introduction of the euro, we look at whether EMU … linked to the preparation of EMU; however, this interpretation is weakened by the fact that a similar decline occurred also …

change associated with the start of EMU in 1999. The main findings are as follows. Steadystate inflation and inflation … uncertainty have declined steadily since the inception of EMU, whilst short-run uncertainty has increased, mainly owing to …