What is the current state of sovereign credit risk across Euro zone? Does the recent fiscal crisis extend to other (non … Euro zone) countries? Is Greece the center of the problem? How did the current fiscal crisis in the Euro area start? Who is … behind it? Why can it evolve? How can it be addressed? And, is a fiscally-challenged country likely to want to leave the Euro …

This paper analyses the issues raised by EMU for the relationships between the euro area and the international … financial system. The depreciation of the euro exchange rate since the beginning of EMU has attracted most attention. The paper … that the authorities should take a more active policy stance. The paper assesses the role of the euro as an international …

have changed considerably due to increased openness and integration requiring considering business cycles at regional …

Purpose – This paper examines the recently realized continuous volatility and discrete jumps of US Dollar/Euro returns … Dollar/Euro exchange rates have smaller daily jump probabilities by 20-30% than when we do not include the periodicity …, the five minute returns of US Dollar/Euro have considerably smaller jump probabilities …

countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … introduction of the euro caused a structural change in exchange rate pass-through. Although some estimated point elasticities have … manufacturing industries. And since the euro was introduced, industries producing differentiated goods have been more likely to …