analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created … Germany as center countries with rising/high current account deficits (US) and surpluses (Germany). These are matched by … account deficits of countries stabilizing their exchange rate against the euro (euro periphery). Meanwhile, the aggregate …

This paper analyses the incidence and severity of sudden stops in euro area countries before and after the introduction … stops, we document that sudden stops were overall more frequent and more severe in euro area countries compared to other … euro area countries to severe sudden stops mainly reflects domestic fundamentals whereas there is no clear evidence of an …

analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. … Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … account deficits of countries stabilizing their exchange rate against the euro (euro periphery). Meanwhile, the aggregate …

We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and "transaction … traditional portfolio objectives as debt to reserve ratios decrease. We empirically estimate optimal dollar and euro shares for 24 … reserve ratios, introducing transactions demand has a relatively modest effect. We also find that euro and dollar bonds act as …

We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and quot … traditional portfolio objectives as debt to reserve ratios decrease. We empirically estimate optimal dollar and euro shares for 24 … reserve ratios, introducing transactions demand has a elatively modest effect. We also find that euro and dollar bonds act as …

This paper analyses the incidence and severity of sudden stops in euro area countries before and after the introduction … stops, we document that sudden stops were overall more frequent and more severe in euro area countries compared to other … euro area countries to severe sudden stops mainly reflects domestic fundamentals whereas there is no clear evidence of an …

's prosperity. The paper focuses on political events in Italy over the past 35 years and asks whether the adoption of the euro in … 1999 has helped insulate Italy's financial markets from the adverse consequences of its traditionally unstable political … system. We find that important political events have exerted a statistically and economically significant effect on Italy …

the euro area. Equally importantly, economies with a weaker track record in terms of economic and institutional quality …

the period 1994-2012. We find that, for the euro area, the reaction of current account misalignments to a shock in the … misalignments more than the output gap. In non-euro area countries and euro periphery an increase in current account misalignments …