Alberto Alesina, Francesco Giavazzi, "Europe and the Euro (National Bureau of Economic Research Conference Report)"
English | ISBN 10: 0226012832 | 2010 | PDF | pages | 2 MB
It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of the euro: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and, it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame to evaluate the success of the euro and whether it has lived up to expectations.