a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

for the eurozone. The triple euro area crisis showed the costly consequences of ignoring the "safety trilemma". Keeping a … capital mobility and maintaining economic and financial stability in a monetary union. The euro area needs a single safe … countries must therefore act as the joint sovereign behind the euro and choose from two options. First, they could establish a …

This paper analyses the impact of the global financial crisis on euro area cross-border financial flows by comparing … significant changes in the composition of euro area cross-border portfolio flows, as investors shifted from equity to debt … crossborder financial activity may have a major bearing on growth prospects for the euro area and may also matter from a financial …

particularly pronounced in intra-euro area capital flows and after the introduction of the common currency. If we control for the …

particularly pronounced in intra-euro area capital flows and after the introduction of the common currency. If we control for the …

whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in … countries, the EU-15 or euro-area countries, for the period 1970-1999. However, there were shown to be considerable differences … between the euro-area and the successful monetary union of the USA: the euro-area showed a much lower insurance of asymmetric …

whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in … countries, the EU-15 or euro-area countries, for the period 1970-1999. However, there were shown to be considerable differences … between the euro-area and the successful monetary union of the USA: the euro-area showed a much lower insurance of asymmetric …

euro area banks. The period associated with the European sovereign debt crisis has witnessed increased growth in euro area … bank claims on extra-euro area residents, against a background of contracting euro area credit supply. Controlling for bank … policy in the US, UK, Japan and euro area - as drivers of the global flows of euro area banks. Moreover, regression analysis …

We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Pro- gramme at the security level …. Based on net transactions of domestic and foreign securities, we observe euro area sectors' capital ows into individual … that euro area investors (in particular investment funds and households) actively rebal- anced away from securities …