-S type of regression for each regime. Our results show that, for countries which pegged to or adopted the euro, the effect of … conclude that, in a catching-up country, premature euro adoption may foster excess inflation, beyond that which is to be …

To raise the euro's inflation target without an inflationary default and meanwhile to promote growth and the …

Although euro area-wide inflation was from 1999 to 2005 almost right, i.e., "close to balance, but below 2%," and … although it combined with real growth as predicted by the long-run money demand equation in the euro area, the picture that … real growth is an issue that the euro area governance is illprepared to manage. It may be of interest, therefore, to …