-euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of … a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra …

euro-area framework. The aim is to assess the propagation mechanisms of real shocks, focusing on the interconnections among … the north euro area and the south euro area. We incorporate theory-based long-run restrictions and examine the effects of … support for symmetric adjustment in the euro area; an expansionary policy of the north euro area and increased competitiveness …

Nordic economies since the creation of Euro. The Minsky's financial instability hypothesis and the Kalecki's five …

put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or …In 1999, eleven European countries formed the Economic and Monetary Union (EMU); they abandoned their national … currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by …