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The Speed of Euro Adoption

Francesco Columba

MPRA Paper from University Library of Munich, Germany

Abstract: This paper estimates the speed and determinants of euro adoption across Italian provinces by exploiting the natural experiment in early 2002 when euro and lira dually circulated as legal tender. A unique data set with daily observations on the net flows of euro banknotes from the branches of the Bank of Italy, province by province, is used. The speed of euro adoption differs according to the availability of transaction technology and demographic characteristics. Lessons for countries adopting a new currency are obtained.

Keywords: currency; euro; financial innovation; monetary transition (search for similar items in EconPapers)
JEL-codes: E42 E51 (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-eec, nep-ifn, nep-mac and nep-mon
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Journal Article: The speed of euro adoption (2008) Downloads
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