-euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of … 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 …

within the European Monetary Union (EMU). In line with findings in the so-called border literature these results suggest that …

major EMU countries before and after the introduction of the euro. For both periods, we find strong evidence in favor of … present evidence for the sustainability of the ECBs inflation target of an EMU-wide average inflation rate of less than but …

Inflation differentials in the euro area have been persistent since the adoption of the single currency. This paper …, after the adoption of the euro, product market deregulation has a relevant and significant effect on the level of inflation …

) to study the impact of the introduction of the euro on goods market integration. Employing both aggregated and … same country. Under the EMU, the elimination of nominal exchange rate volatility has largely reduced these border effects …

financial integration has promoted financial development in the euro area. It starts by defining financial integration and how … assesses whether the euro area has actually become more integrated. It then explores to which extent these changes in financial … markets have influenced the performance of the euro-area economy, that is, its growth and investment, as well as its ability …

No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those … who see the euro as the advent of a newly open, large, and efficient regime which will lead to improvements in European … and in particular in German competitiveness; those who see the euro as a weakening of the German commitment to price …

This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial … markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local … expressed in euro imperfect substitutes across borders. Prudential control will also continue to be handled differently from …

within the European Monetary Union (EMU). In line with findings in the so-called ‘border literature’ these results suggest …

major EMU countries before and after the introduction of the euro. For both periods, we find strong evidence in favor of … present evidence for the sustainability of the ECB’s inflation target of an EMU-wide average inflation rate of less than but …