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political issues: an accesible guide.This history and analysis of the euro and the European Central Bank traces the process of … establishment of a single currency managed by a central bank. Tommaso Padoa-Schioppa, a central banker who has been involved in the … making of European monetary unification since 1979, offers an accessible guide to the euro and the European Central Bank for …
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This paper provides an introduction to the special issue on international lending of last resort. Starting from debates about rescue operations and unconventional policies of major central banks in the contexts of the Global Financial Crisis and the European Debt Crisis, it draws attention to...
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The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
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the initial shock; and (iii) asset purchases and central bank long-term refinancing operations can be effective …
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