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 …

Poland is obligated to adopt the euro after the fulfilment, inter alia, of the exchange rate criterion which requires … entering the Exchange Rate Mechanism II (ERM II). The European Central Bank recommends that the ERM II central rate should … estimate real Polish zloty/euro equilibrium rate. Although the main goal of our analysis is to compute measures of current and …

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their … significantly endogenous. At the same time, to assess the relative dominance of Germany, the features against Germany are compared … remarkable convergence with Germany and across the states but also relative convergence with US. On economic erformance, results …

increased central bank independence, greater focus on inflation policy and more flexible exchange rates. A key lesson of the GFC … stability for a central bank and the policies a central bank can use to manage financial stability; the monetary policy …

asymmetric current account developments. It identifies the US and Germany as center countries with rising / high current account … deficits (US) and surpluses (Germany). These are matched by current account surpluses of countries stabilizing their exchange … against the euro or members of the euro area (euro periphery). The paper finds that changes of world current account positions …

-interest liquidity trap and economic stagnation for almost two decades. However, in 2013, through massive quantitative easing by the Bank …. Since 2008, quantitative easing by the BOJ has been similar to that carried out by the US Federal Reserve, the Bank of … England, and the European Central Bank. So the BOJ can only be faulted as a currency belligerent if there is a further …