of existing national public debts is involved. Instead, the Euro Treasury is established as a means to pool eurozone …The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A “Euro Treasury” scheme operating on a strict rule and specifically designed not …

after the adoption of euro, these Granger causalities disappeared. We decompose trade balances into intra balances (trade … balance vis-à-vis the euro area) and extra balances (trade balance vis-à-vis the rest of the world), and find that the …

countries converging to a common currency system, in particular, to the euro. The analytical framework assumes inflation target … as the ultimate policy goal. The converging countries act as "takers" of inflation target, in this case, the eurozone … the euro. However, feasibility of adopting money growth rules depends on stable relationships between money and target …

We study the pass-through of exchange rate changes to consumer prices for the euro area by estimating vector error … Prices (HICP) we compute a weighted average of the country results for the euro area. We find that in response to a ten … percent depreciation of the euro nominal effective exchange rate index, the HICP tends to increase by 0,4 percent after 12 …

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 …