rates EUR/GRD and EUR/ITL during the euro zone membership period. Leaving the euro area one can expect the following market … rates: EUR/GRD 600 and EUR/ITL 1850. That would mean 75% depreciation and 5% appreciation to the current euro parities EUR …

After reviewing the main determinants of the current eurozone crisis, this paper discusses the feasibility of … austerity measures in order to abide by their commitments to eurozone institutions and the International Monetary Fund. We show … that the introduction of fiscal currencies would speed up the recovery, without violating the rules of eurozone treaties …

obligate Scotland to eventually join the euro common currency. If Scottish home prices were not highly cohesive with those in … euro zone countries, the ECB's monetary policy could cause major disruptions for Scottish housing, and, by extension, the … Scottish economy. As an example, if most euro-country home values were rising, but those in Scotland were falling, the ECB …

The euro area has several problems. Nevertheless, there is not only strong political support for it, but also most … companies back the euro or at least do not complain. It is worthwhile to analyse which companies do profit from the euro and why … most others do not oppose it. Exporting companies in the northern countries of the euro zone profit from the euro and the …

If there is a high level of synchronization among euro zone country housing markets, the European Central Bank can … harder time setting policy. Given the importance of housing to the macroeconomy, such co-movement across euro zone countries … are the first to use endogenous break methods to explicitly test for whether the introduction of the euro has changed home …

whether home values converge across eight euro-zone housing markets. Contrary to previous studies, we find only marginal …For the European Central Bank to incorporate euro-wide housing into its policy decisions, it is helpful if home values … evidence that euro housing markets converge. Moreover, for what convergence there appears to be, there is no evidence that the …

This paper overviews the early history of the euro and argues that the euro was sub-optimally designed, without … monetary sovereignty of Eurozone (EZ) Member States, in order to comply with political goals set by wealthier Member States …. Given this constraint, the euro architects designed a single currency in which its irreversibility is achieved through the …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have … warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …

Twenty years of euro history confirms the euro's stability and position as the second global currency. It also enjoys … the support of majority of the euro area population and is seen as a good thing for the European Union. The European …

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 …