Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous …. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in … structural reform. However, it is much less clear whether progress can be ascribed to EMU membership. To explore further the …

predecessor currencies, net of intra-euro area assets/ liabilities, before stage 3 of EMU. A number of key factors determining the … a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both from the … measures are presented, including euro aggregates calculated up to five years back in time. The data allow for the …

This paper assesses the Euro’s influence upon European trade by estimating two different indicators. The first is the … with its trade partners. This study of the Euro’s influence by means of the Border Effect is a novelty in the literature …, it reveals that the Euro’s influence upon trade is not so clear as papers focused only on the Rose Effect claim. This …

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries … using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …

The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact … economic integration among euro area countries has important consequences for the factors driving asset returns in financial … recent euro area stock markets data, we find clear evidence that diversification over industries yields more efficient …

among euro area countries have increased due to the catalyst effect of EMU. Country's shares in the world market portfolio … investors preferred portfolio assets of countries where the central bank gave relative importance to money. As for EMU, once …, 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 …

This paper sets out to build a synthetic quarterly Divisia monetary aggregate for the euro area using area wide data … regards future output and inflation in the euro area is analysed. The outcome of this analysis suggests that the Divisia … important role in shaping monetary policy in the euro area. JEL Classification: E41, E52 …

This paper relates the size of the cyclical inflation differentials, currently observed for euro area countries, to the …

from 6 euro area countries, spanning several years before and after the introduction of the euro, we look at whether EMU … surrounding the euro cash changeover) retail price adjustment frequencies, both up and down, increased substantially, while the … linked to the preparation of EMU; however, this interpretation is weakened by the fact that a similar decline occurred also …