In recent years, the global economy has been hit by a sequence of severe shocks that affected the two largest economies, the USA and the Euro Area, severely. Uncertainties about the future abound. While the challenges are similar for both economies and the policy tools resemble each other, they...

On 1 January 2002, euro banknotes and coins were introduced in twelve EU Member States. Three more countries joined in the following years, and over 300 million people now use the euro in their daily transactions. The currency changeover was a technical success. From the very start, however, the...

"This insightful book investigates the evolution of the European and global economy from the 1950s to the present day, focusing on the role of the EU in a new global environment where economy and security intersect. Multiple crises such as the COVID-19 pandemic, rising inflation and...

In this paper we have applied two approaches to the study of the dollar real exchange rate in relation with the Euro-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus seven developed countries, four of them...

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...