Marcel Fratzscher

TL;DR: In this paper, the authors proposed six reforms which, if delivered as a package, would improve the euro area?s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.

TL;DR: In this article, the authors show that there is a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others, and that the share and size of FDI received by a country are largely insensitive to institutional factors in host countries, while portfolio investment is more sensitive to the quality of institutions.

TL;DR: In this article, the authors investigated whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU.

TL;DR: The authors survey the literature on central bank communication and find that communication can be an important and powerful part of the central bank's toolkit since it has the ability to move financial markets, to enhance the predictability of monetary policy decisions, and potentially to help achieve central banks' macroeconomic objectives.

TL;DR: The authors assesses whether the international monetary system is already tri-polar and centred around the US dollar, the euro and the Chinese renminbi (RMB) and find evidence that the RMB has become a key driver of currency movements in emerging Asia since the mid-2000s, and even more so since the global financial crisis.