This paper first describes the ingredients the present crisis in the euro zone and then evaluates the key options that … was involved as well. I argue that a more fundamental problem is that the euro zone lacks an adjustment mechanism for …

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

To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … euro is only present at the end of the sample, this may have led to an upward bias in existing euro estimates to help … have different effects across country-pairs. Data on industrialized countries over 1967-2002 show the existing euro effects …

A major economic reason for the introduction of the euro was its supposedly positive effect on intra-EMU trade …. Existing studies examine this suspicion indirectly using non-EMU data and report ambiguous results. We estimate the euro … euro has significantly increased trade, with an effect of 4% in the first year and cumulating to around 40% in the long …

This paper provides an update of de Nardis and Vicarelli (2003) estimates of the euro effect on trade integration of … consistent with the already tight trade links characterizing the economies that embraced the euro and with the possibility that …

Existing studies on the impact of the euro on goods trade report increments between 5% and 40%. These estimates are … trends over time for the euro countries, and that this leads to an upward bias in the estimated euro effect. To correct for … shrinks the estimated euro impact to 3% …

To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … euro is only present at the end of the sample, this may have led to an upward bias in existing euro estimates to help … have different effects across country-pairs. Data on industrialized countries over 1967-2002 show the existing euro effects …

Mitgliedern der Währungsunion ist. Bei der Aufnahme weiterer Mitglieder in die EURO-Zone sind sowohl realwirtschaftliche als auch … determine the members of the EURO zone. The Maastricht criteria suffer from two weaknesses: neither do they reflect sufficiently … sectors (tradeables, non-tradeables) in the respective member countries. In the light of the forthcoming widening of the EURO …