Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone … European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non … Eurozone countries, so the advent of the euroappears to have been associated with a shift in exchange risk from systematic to …

the economic theory is concerned, this view has the attractive feature that it not only fits with the logic of traditional …

Consumer Tendency Survey fall within these bounds throughout the whole sample period. Moreover we show that, as Fisher's theory …