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Browsing Working Papers CREI (Centre de Recerca en Economia Internacional) by Subject "Monetary unions"

Browsing Working Papers CREI (Centre de Recerca en Economia Internacional) by Subject "Monetary unions"

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  • Fornaro, Luca (2021-04)
    Since the creation of the euro, capital flows among member countries have been large and volatile. Motivated by this fact, I provide a theory connecting the exchange rate regime to financial integration. The key feature ...
  • Fornaro, Luca; Grosse-Steffen, Christoph (2024-06)
    We provide a theory of financial fragmentation in monetary unions. Our key insight is that currency unions may experience endogenous breakings of symmetry: that is episodes in which identical countries react differently ...

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