The initial introduction of the euro has, against many expectations, been accompanied by a decline in the value of the … euro (notably vis-à-vis the dollar and sterling). It has also been introduced at a time of high levels of unemployment … the euro, specifically from the policy and institutional arrangements within which the euro is embedded. It is the …

, two of which could qualify as "crises." First, the euro was launched at a time when unemployment levels were high (10 … surround the operation of the euro, notably the objectives of the European Central Bank and the workings of the Stability and …, the introduction of the euro and the associated institutional setting could well serve to exacerbate tendencies toward …

This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …