The mere existence of nominal public debt may create inflationary incentives. This model highlights the fact that public debt may not only affect the credibility of the fixed exchange rate regime, but it also examines possible consequences of high public debt levels when countries that...

This paper examines the demand and supply shocks observed in the present Eurozone member states and those observed in some neighboring countries. The analysis is based on recent data and each Eurozone member country is compared with an aggregate series corresponding to an area made up of the...

The goal of this paper is to present the current currency diversity, as well as some arrangements in force within the international monetary system. Finally, the future evolution of the international monetary system is briefly sketched.