This paper describes and analyses the evolution of euro area currency in circulation in the last years and especially in the run up to the cash change-over. In particular, it revisits the possible effect of the latter on the euro/dollar-exchange rate, which has been emphasised recently in the...

The subject of the study is the impact of the exchange rate on Gennany's balance of trade. The analysis hence focuses on the significance of invoicing practices as weIl as the factors which determine export and import prices and the volumes.The results reveal a largely classical reaction on the...

At the beginning of 1999 the euro was launched as a common currency in 11 European countries. This paper addresses empirically the medium to long-term forces driving the real euro-dollar exchange rate. Constructing a synthetic euro-dollar exchange rate over a period from 1975 to 1998 and...