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In this paper we study the changes in corporate valuations induced by the adoption of the euro as the common currency … in Europe. We use corporate-evel data from ten countries that adopted the euro, the three EU countries that did not start … using the euro, as well as Norway and Switzerland. We show that the introduction of the euro has increased Tobin's Q …
Persistent link: https://www.econbiz.de/10010281165
of Economic and Monetary Union (EMU) in Europe. We use corporate-level data from ten countries that adopted the euro, the … three EU countries that did not join EMU, as well as Norway and Switzerland. We show that the introduction of the euro has … supports the view that the introduction of the euro has lowered firms' cost of capital by eliminating currency risks among the …
Persistent link: https://www.econbiz.de/10010281234
currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro?s impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …
Persistent link: https://www.econbiz.de/10010296364
We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … home currency invoicing after the introduction of the euro. In addition, the euro as a vehicle currency has overtaken the … role of the US dollar in Norwegian imports. The econometric analysis shows a significant effect of euro introduction above …
Persistent link: https://www.econbiz.de/10010275698
In this paper we examine changes on investment decisions induced by the introduction of the Euro. There are two … potential sources of portfolio reallocation. First, the introduction of the Euro diminished exchange rate risks within the EMU …
Persistent link: https://www.econbiz.de/10010296249
economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …
Persistent link: https://www.econbiz.de/10011314157
Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....
Persistent link: https://www.econbiz.de/10011430901
. It finds that political mishandling has increased uncertainty, which has contributed to a tendency for the euro to become …
Persistent link: https://www.econbiz.de/10010397341
The global economic and financial crisis has raised further concerns about the euro-entry criteria, in addition to … price level convergence of Central and Eastern European countries, and the continuous violation of the criteria by euro … relate all criteria to the average of the euro area and simultaneously to extend the compliance period from the currently …
Persistent link: https://www.econbiz.de/10010494439
1) The Adoption of the Euro by New Member States: Challenges and Vulnerabilities by Michael C. Bonello 2) The Economics …
Persistent link: https://www.econbiz.de/10011689927