consider two forms of CBDC: a narrow version that only replaces notes and coins and a broader form with a deposit feature. The …

experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking …

that incorporate real exchange rate effects. Moreover, we explicitly consider the impact of future euro area entry by … switching models as well as by estimating a differential rule vis-à-vis the existing euro area. Lastly, the paper also considers … interest rate setting behavior in Hungary does not resemble that of the euro area. Also, counterfactual experiments reveal that …

"The economies of the Eurozone countries are plagued by multiple crises, which cast major doubts over the future of the … Euro. In this engaging new book, leading heterodox economist Malcolm Sawyer argues that the entire policy framework of the … Eurozone was fundamentally flawed from its foundation. He shows how these ‘design faults’ intensified the effects of the crisis …

prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be … as the Stability and Growth Pact which govern the euro. The authors propose alternative policy and institutional … arrangements within which the euro should be embedded. They demonstrate that these would have the benefits of a single currency …