Among the most puzzling observations for the euro money market are the bid shading in the weekly refinancing operations and the development of interest rate spreads. To explain these observations, we considera standard divisible-good auction à la Klemperer and Meyer (1989) with uniform or...

Cover; Half-title; Title; Copyright; Contents; Contributors; Foreword; Acknowledgements; Abbreviations; Introduction; Part 1 Macroeconometric evidence on the transmission mechanism in the euro area; Part 2 Firms' investment and monetary policy: evidence from micro economic data; Part 3 The role of...

History and analysis of European monetary integration and related economic, financial, monetary, and international political issues: an accesible guide.This history and analysis of the euro and the European Central Bank traces the process of European monetary integration from its beginnings as a...

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...