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 …

invoice currencies in the transmission of exchange rate shocks. In this paper, we examine the introduction of the euro as a … existing theories. We use unique data on the invoice currencies of the universe of export and import transactions of a small … open economy trading with the Eurozone over the period 1997-2010. Before the euro, exports to the Eurozone were dominated …

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 …

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 …

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 …

How Greece can free itself from the Euro's stranglehold by introducing a new government managed payment system based on …

We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member … countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another …-à-vis external counterparties. At the aggregate level, it is those countries physically closest to the euro area that are both the …

The global financial crisis (2008-09) led to a sharp contraction in both Euro Area (EA) and US real activity, and was …