We present a theoretical and empirical analysis of stable coexistence among the world's anchor currencies (G3): the dollar, euro and yen. The theoretical model presented in this paper builds on a model of spatial competition and rests on a set of assumptions related to the behavior of central...

This study concentrates on interactions, price convergence and co-movements among the organized (and parallel) markets in the Czech Republic. Significant and lasting price differences between the individual trading channels available to the investor are documented and they are attributed to the...