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 …

proposing a theory-based index of exchange market pressure within the euro area. We argue that the euro area entails an inherent …

theory-based index of exchange market pressure within the euro area. We argue that the euro area entails an inherent policy …