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 …

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 …

In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm …-level data from eleven euro area countries as well as from a control group of five other European countries spanning the years … 1991–2006. We show that firms from euro area countries that previously had weak currencies have increased both their equity …

We study the financing policies of European public corporations prior to the euro crisis. Using data from eleven euro … countries and a control group of five other European countries over 1991-2006, we show that non-financial firms from euro … countries with previously weak currencies considerably increased their debt financing after the introduction of the euro. The …

Private sector borrowing has been identified as a major factor behind the euro crisis. We study the contribution of non …-financial public corporations to this finding. Using data from eleven euro countries and a control group of five other European … countries over 1991-2006, we show that firms from euro countries with previously weak currencies considerably increased their …

of history confirm the stability of the euro as a single currency in the region and it is seen as a great achievement of …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

Union (EMU) ; Euro ; seignorage ; seignorage pooling ; seignorage change ; pool bias …

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 …

The crisis in the Euro Zone is due to two factors: over-borrowing by some states and credit booms in others. The … architecture of the Euro remains incomplete, due to lack of enforcement of fiscal discipline and an integrated bank supervision … Euro needs once more a transition phase with a gradual fiscal and asymmetric adjustment with a decisive intervention by …