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 …

a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both from the … measures are presented, including euro aggregates calculated up to five years back in time. The data allow for the … identification of changes in the role of the euro (or other main currencies) during 1999 compared to the aggregate of euro …

-known ranking for the leading currencies – in particular the US dollar and the euro – but give considerably greater weight to …

economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …

This paper investigates whether comovements between euro area equity returns at national and industry level have … changed after the introduction of the euro. By adopting a regression quantile-based methodology, we find that after 1999 the … degree of comovements among euro area national equity markets has augmented. By explicitly controlling for the impact of …

euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral … euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

process. We identify the impact of (i) joining the European Union and (ii) joining the Euro on cross-border M&As. We show that …

’s prosperity. The paper focuses on olitical events in Italy over the past 35 years and asks whether the adoption of the euro in …’s financial markets throughout the 1970s, 1980s and 1990s. The introduction of the euro appears to have indeed played a major role …