Hale, Galina B.; Spiegel, Mark M. - In: Journal of International Economics 88 (2012) 1, pp. 134-149
We analyze the impact that the launch of the EMU had on the currency denomination of private international bond issues in 1990–2006 using micro-level data. Our stylized model predicts that the introduction of the euro would lead to an increase in the share of euro-denominated debt and a...