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 …

This policy brief reviews the experience of the countries under the Euro currency, focusing on those that have been … survival of the Euro zone are complex and still far from fulfillment. While Latin America has recently experienced a similar …

traditional portfolio objectives as debt to reserve ratios decrease. We empirically estimate optimal dollar and euro shares for 24 … emerging market countries and find that optimal reserve portfolios are dominated by anchor currencies and, at current debt to … reserve ratios, introducing transactions demand has a elatively modest effect. We also find that euro and dollar bonds act as …

. This note reviews the development of the European Union's euro zone and its impacts on growth and finds lessons that can be …