, the seigniorage generated by the issue of Euro bills is profit of the European Central Bank that is distributed by a … determined key. On the other hand, the member countries gain the seigniorage of Euro coinage directly. Due to this inconsistency … a change in denomination (e.g. a substitution of Euro bills by Euro coins et vice versa) will cause redistribution …

number of measures of core inflation constructed using euro area data. In addition to the traditional exclusion-type core … Union. We document significant excess kurtosis in the cross-section distribution of price changes in the euro area, and show …

our analysis on the effect of the euro for the determinants of bond trade, equity and banking assets. With the help of a … theoretical model, we attempt to disentangle the different effects that the euro may have had on asset holdings for both euro zone … countries and countries outside of the euro zone such as Sweden. We find evidence that the euro has implied 1) a unilateral …

between the response to the advent of the euro by new and seasoned bond issuers, and to condition on other issue … characteristics. We find that the impact on new issuers is larger than on seasoned issuers and that most of the increase in the euro … composition in the long run, these results imply that aggregate studies might be underestimating the euro effect. We also find …

Diversification opportunities in Euroland appear to have improved significantly since the advent of the euro, thus … the time series of return dispersions suggestive of cycles and long swings in return correlations. The most recent post-euro …