The 1992 Maastricht Treaty, laid the foundations for the current European Union with its single market in goods, services, capital and labour and established the framework for the creation of the single currency. We study countries that differ in the extent to which they share a common currency...

We estimate the effect of euro adoption on prices using data on Greek exporters spanning over the period 1999-2007. The overall impact of the euro on the prices of exports was negligible, but it masks significant heterogeneity across firms with different levels of pre-euro productivity. Our...

We describe the political-economic environment that precipitated the Greek crisis. Involved were nocuous collaborations between private interests and the formally appointed custodians of the public interest, and a captured politicized bureaucracy. The confluence of these forces aided in the...

We examine the effects that a country's net capital flows have on the (border) prices that a country pays for its imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to study exporters' pricing behavior to the rest of the...

We examine the effects that a country's net capital flows have on the (border) prices that a country pays for its imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to study exporters' pricing behavior to the rest of the...