Foreign exchange reserve accumulation has risen dramatically in recent years. The introduction of the euro, greater … currencies. Making various assumptions on expected currency returns and the variance-covariance structure, we assess how the euro …-free) currency. (ii) The optimum portfolios show a much lower weight for the euro than is observed. This suggests that the euro may …

Volatility permeates modern financial theories and decision making processes. As such, accurate measures and good … forecasts of future volatility are critical for the implementation and evaluation of asset pricing theories. In response to this …, a voluminous literature has emerged for modeling the temporal dependencies in financial market volatility at the daily …

additional factors, a commodity currency factor and a "world" factor based on trading volumes, fits currency basket correlations …

article, we provide evidence suggesting a recent rise in the use of the dollar, and fall of the use in the euro, with similar …

foreign currencies, especially in the US dollar, exhibiting a lower pass-through of the euro-destination exchange rate and a …

Using tick-by-tick data of the dollar-yen and euro-dollar exchange rates recorded in the actual transaction platform, a …

The euro has arisen as a credible eventual competitor to the dollar as leading international currency, much as the … major currencies in the reserve holdings of the world's central banks. Significant factors include: size of the home country … euro over the period 1999-2007. This paper updates calculations regarding possible scenarios for the future. We exclude the …

estimate a weight on the preceding year's currency share around .9). The advent of the euro …euro. This paper econometrically estimates determinants of the shares of major currencies in the …gap between the dollar and euro over the period 1999-2004. Whether the euro might in the future …