Search Results

SORT BY: PREVIOUS / NEXT
Keywords:Euro 

Journal Article
Statement to Congress, October 8, 1998, (implications for the demand for Federal Reserve notes after the issuance of euro bank notes).

Federal Reserve Bulletin , Issue Dec , Pages 1054-1056

Journal Article
Is the international role of the dollar changing?

Facing a shortage of U.S. dollars and a growing need to support their dollar-denominated assets during the financial crisis, international firms increasingly turned to the foreign exchange swap market and other secured funding sources. An analysis of the ensuing strains in the swap market shows that the dollar "basis"--the premium international institutions pay for dollar funding--became persistently large and positive, chiefly as a result of the higher funding costs paid by smaller firms and non-U.S. banks. The widening of the basis underscores the severity and breadth of the crisis as ...
Current Issues in Economics and Finance , Volume 16 , Issue Jan

Working Paper
Who drove the boom in euro-denominated bond issues?

We make use of micro-level data for over 45,000 private bonds issued by over 5000 firms from 22 countries in 1990-2006 to analyze the impact that the launch of the EMU had on the currency denomination of the bond issues. To our knowledge, ours is the first systematic analysis of issue at the micro level. The use of the micro data allows us to distinguish between the response to the advent of the euro by new and seasoned bond issuers, and to condition on other issue characteristics. We find that the impact on new issuers is larger than on seasoned issuers and that most of the increase in the ...
Working Paper Series , Paper 2008-20

Working Paper
Monetary and financial integration in the EMU: Push or pull?

A number of studies have recently noted that monetary integration in the European Monetary Union (EMU) has been accompanied by increased financial integration. This paper examines the channels through which monetary union increased financial integration, using international panel data on bilateral international commercial bank claims from 1998-2006. I decompose the relative increase in bilateral commercial bank claims among union members following monetary integration into three possible channels: A "borrower effect," as a country's EMU membership may leave its borrowers more creditworthy ...
Working Paper Series , Paper 2008-11

Working Paper
Inflation persistence and optimal monetary policy in the euro area

In this paper we first present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area countries. Based on the estimation of New Phillips Curves for five major countries of the euro area, we find that there is significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward looking component. In the second part of the paper we present an optimizing agent model for the euro area emphasizing the heterogeneity in inflation persistence across regions. Allowing for such a backward looking component ...
International Finance Discussion Papers , Paper 749

Journal Article
The euro and inflation divergence in Europe

Economic Quarterly , Volume 89 , Issue Sum , Pages 53-70

Journal Article
The EMU effect on the currency denomination of international bonds

This Economic Letter reviews recent work that focuses on micro-level data to study the impact of the launch of the EMU on the currency denomination of international bonds.
FRBSF Economic Letter

Journal Article
Global Uncertainty in the Wake of Brexit

Hakkio and Sly find that increased global uncertainty after Brexit will be a major concern for the United Kingdom, a modest concern for the euro area, and a minor concern for the United States.
Macro Bulletin

Speech
The euro: engine for prosperity

Presentation to the European Banking & Financial Forum 2001, Czech National Bank Congress Center, Prague - March 27, 2001
Speech , Paper 60

FILTER BY year

FILTER BY Content Type

Journal Article 17 items

Working Paper 8 items

Speech 7 items

Newsletter 3 items

Report 2 items

FILTER BY Author

FILTER BY Jel Classification

E58 1 items

F10 1 items

F36 1 items

FILTER BY Keywords

European Central Bank 8 items

Dollar, American 5 items

European Monetary System (Organization) 5 items

Euro-dollar market 4 items

Inflation (Finance) 4 items

show more (49)

PREVIOUS / NEXT