We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone … foreign exchange markets while in the Eurozone it was the absence of a lender of last resort in the long-term government bond … Eurozone the roles were reversed. The national central banks that became part of the Eurosystem were strengthened …

We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone … foreign exchange markets while in the Eurozone it was the absence of a lender of last resort in the long-term government bond … Eurozone the roles were reversed. The national central banks that became part of the Eurosystem were strengthened. …

questions as the expansion of the eurozone, the institution of monetary unions in Latin America and East Asia, and the effect of … the eurozone, discussing, among other topics, its effect on labor market reforms, the empirical validity of the … eurozone. Other chapters consider such topics as the effect of monetary unions on trade flows, risk-sharing mechanisms to …