A tripolar international monetary system-centered on the U.S. dollar, the deutsche mark, and the yen - appears to be emerging. This paper not only assesses the role of the yen as an international currency but also presents a unified theory of international currency use and distinguishes between...

This paper examines the role and factors of seasonality in tourist revenues in the case of Greece. The empirical analysis of the current research is conducted using quarterly data for the period 1960:I 2005:IV. Osborn et. al. (1998), Miron (1994) and Hylleberg et. al. (1990) tests for seasonal...

This paper considers the risk management problem of an investor who holds a diversified portfolio of global equities or bonds and chooses long or short positions in currencies to manage the risk of the total portfolio. Over the period 1975-2005, we find that a risk-minimizing global equity...