There is a wide consensus that the existence of structural rigidities in the Eurozone reduces the effectiveness of the … monetary policies in the US and the Eurozone countries. This consists in collecting the estimated transmission coefficients …

We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self … peripheral Eurozone countries during 2010–11 was disconnected from underlying increases in the debt to GDP ratios and fiscal … 2010. We argue that this can drive member countries of the Eurozone into bad equilibria. We also find evidence that after …

The government debt crisis, erupted in the Eurozone in 2009, nearly led to the collapse of European monetary union. Now … that this has been averted, the question is what should be done to make the Eurozone sustainable in the long run. The … survival of the Eurozone hinges on the capacity of its leaders to improve the eurozone's governance. With the exception of …

The nature of fiscal policies was changed dramatically by the creation of the Eurozone. While prior to the start of the … Eurozone, national governments were sovereign in that they could back up the issue of debt by the issue of money, they lost … this sovereignty in the Eurozone. This had dramatic effects that were largely overlooked by the designers of the Eurozone …

In this paper we suggest that Eurozone countries face a policy trade-off among: 1) a common rule imposing co … conclude that the intense fiscal rules that have been introduced in the Eurozone after the emergence of the debt crisis reduced …

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. This came at …

We test the hypothesis that the government bond markets in the Eurozone are more fragile and more susceptible to self … countries in the Eurozone during 2010-11 was disconnected from underlying increases in the debt to GDP ratios and fiscal space … argue that this can drive member countries of the Eurozone into bad equilibria. We also find evidence that after years of …

self-fulfilling multiple equilibria arise. I analyze the implications of this fragility for the governance of the Eurozone …