The euro area will not have a centralized budget, and smoothing of country-specific asymmetric shocks via private …

autarchic (i.e. fundamental) FX returns. The model is calibrated and tested on the Czech koruna/euro exchange rate in a setting … with seven Czech and euro area asset returns. …

The creation of the European Central Bank and the Euro have brought new challenges to EU integration and economic … empirical research on the - transitory - decline of the Euro. Issues of exchange rate policy and international economic … relations also are addressed. Contents: European Monetary Union: Start of the Euro and the Need for Complementary Measures in …