We assess whether the euro had an impact first on the degree of integration of European financial markets, and, second …, on the euro area term structure. We propose two methodologies to measure integration: one relies on time-varying GARCH … movements in both equity and bond euro area markets, suggesting that integration has progressed since the introduction of the …

At the beginning of 1999 the euro was launched as a common currency in 11 European countries. This paper addresses … empirically the medium to long-term forces driving the real euro-dollar exchange rate. Constructing a synthetic euro … determinants of the real euro-dollar exchange rate: the international real interest rate differential, relative prices in the …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral … euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

technology fundamentals. Negative volatility-price dependence arises if the market dynamics is accounted for by common shocks …The evidence of volatility-price dependence observed in previous works (Karakatsani and Bunn 2004; Bottazzi, Sapio and … Secchi 2005; Simonsen 2005) suggests that there is more to volatility than simply spikes. Volatility is found to be …

1) The Adoption of the Euro by New Member States: Challenges and Vulnerabilities by Michael C. Bonello 2) The Economics …