Central bank balance sheets swelled in size in response to the financial crisis of 2007-09. In this article we discuss what makes them different from the balance sheets of other institutions, how they've been used in the past, and how they might evolve in the future as means to implement novel...

This paper analyses in depth the law of European Economic and Monetary Union, as well as its history, trends and prospects. It is divided into seven sections. Section 1 is the introduction; it deals with the history of monetary union in Europe and outlines some basic concepts. Section 2...

We analyse the first twenty years of the euro both from an economic and an institutional perspective. We find that in particular during the period since the financial crisis, convergence as measured by a variety of indicators has not improved. Design flaws in the Eurozone institutional...