The current account has always been a neglected variable in the management of the Euro area and in the assessment of … deficits. It then examines some peculiar features of the growth experience under monetary union in four Euro area countries …

his option contingent on the prior declaration of a state of 'disorderly markets', by the national central bank, the … Bank. The UDROP proposal is rule based and general: it is mandatory for all foreign-currency debt and automatic. That is …

conversion rates between the euro and the currencies of EMU members states. Current EU legislation, notably the Maastricht Treaty … prices of EMU member currencies against the euro. Unfortunately, most of these have potentially damaging side effects. One … approach, based on official Stage 2 offers of contingent euro forward contracts with value dates at the start of Stage 3 …

, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the …

This paper compares the behavior of Euro-Area (EA) banks’ credit and reserves with those of US banks following … respective major crisis triggers (Lehman’s collapse in the US and the 2009 admission by Papandreou, that Greece’s deficit was …

OECD countries, as in previous studies, and one to a sample of developing countries, using recent World Bank data. We find … predictor of non-monotonic effects. Using the World Bank data, the situations in which the non-monotonic response of national …