across countries, we show that these expenditures explain the relative rise of concentration and market power in the US …

In the automobile industry, as in many tradable goods markets, firms usually earn their highest market share within … their domestic market. The goal of this paper is to disentangle the supply- and demand-driven sources of the home market … advantage. While trade costs, foreign production costs, and taste heterogeneity all matter for market outcomes, we find that a …

nineties and the puzzling decline of the euro during its virtual existence to changes in the demand for deutschmarks in eastern … the dollar and the weakness of the euro reflect the prosperity of the US and the weakness of the European economy on both …

The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and … cyclical and inflation conditions vary substantially among countries. Labor market policies during this first year will … some advocate the euro despite its economic problems because of its assumed favorable effects on European political …

. The main issue we focus on is how the euro may alter the responsiveness of consumer prices to exchange rate changes. Our … central conjectures is that the acceptance of the euro will lead European prices to become more insulated from exchange …

conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty … bilateral currency conversion factors implied by the 1 January 1999 choices equal closing" market exchange rates on 31 December … Euro. " Unfortunately, most of these have potentially damaging side effects. One approach official Stage 2 offers of …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

The paper provides and empirical characterization of fiscal policy in the euro area and in a group of twenty-two OECD … economies over the period from 1970 until 2007. Using the cyclically-adjusted fiscal balance we document that policy in the euro … policies. However, the component of the budget due to automatic stabilizers reacts stronger in the euro-area countries than in …

of American economists about the euro and the European Economic and Monetary Union on the tenth anniversary of the euro … of the euro was political, not economic and that the creation of the euro could lead to increased conflict within Europe …

others used the gravity model on a much smaller data set to estimate the effects of the euro on trade among its members. The … that were estimated in the euro's first four years hold up in the second four years? The answer is yes. Second, and more … explanations for the gap between 15% and 200%. First, lags. The euro is still very young. Second, size. The European countries are …