against the euro relative to the U.S. dollar, while the opposite is true for the zloty, apparently related to earlier … inflation rates. By contrast, the currency options market shows enhanced information content of both currencies against the euro …

derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …

United States and the euro area, and we perform model comparisons to study the importance of departing from the law of one …

Using symmetric data sets of 92 weekly return observations before and after the introduction of the euro, the paper …

This paper focuses on euro area policies. The monetary policy stance remains appropriate for now. Fiscal policies are …

The paper compares the degree of capital market integration across euro-area countries with that across regions in … capital flows within the euro area that would entail sizable shifts in countries’ equilibrium current accounts. …

, as conveyed by an implied risk-neutral probability distribution, from option prices for the dollar-euro exchange rate …

This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …