estimate a Markov switching VAR for the euro area and the US, including additionally GDP, CPI and a short-term interest rate …. We find evidence for two distinct states in both regions. For the euro area, we find a regime which is correlated to the …

volatility risk, for dollar, euro and pound rates at a daily frequency, between October 1998 and August 2006. The measurement of … structure, more evident for dollar and euro rates than for pound rates. The volatility risk premium is strongly changing through …. The latter induce more sizeable changes on compensation for volatility risk of dollar rates than of euro or pound rates …

moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at …

economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market …

dollar ; euro ; German dominance hypothesis …This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the … euro and the Chinese renminbi (RMB). It focuses on what we call China's "dominance hypothesis", i.e. whether the renminbi …

, Czech Republic and Hungary vis-à-vis the euro and the US dollar to estimate the risk-neutral density (RND) functions and the …