of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro … of the Central and Eastern European accession countries to the euro area. In order to overcome these pitfalls the author …

The thesis consists of empirical studies on currency market as well as US equity market. A new volatility estimator … using wavelets is proposed and used to analyze financial markets. Currency tick data are analyzed to determine the effects …

, the largest financial market in the world. Whilst the market itself is not new, the concept of currency as an alternative … in foreign investing combined with record high levels of currency volatility raised the importance and immediacy of … foreign exchange risk. This dissertation applies several copulas to model the dependency between a chosen currency pair, and …

establishment of the single market and the adoption of the euro by around half the countries as their single currency. In this study … average construction costs for two building types in two groups of EU countries, one using the euro, the other using their … group of countries that share a single market and a single currency. …

South Korea in the period after the currency markets were liberalized and the limits on foreign investments were lifted. It … was found that trading in the spot currency market was impacted by volatility in the daily Won/USD rates. As the daily …

suggested by the goods market theory for an export-oriented economy. We documented that after local currency appreciation, 'hot … market into a high level based on the expectation of the local currency's further appreciation. …

entry to the euro. We derive conditional probability distributions for the difference between the future realisations of …, Pesaran and Smith (2005). The paper briefly describes the GVAR which has been estimated for 25 countries and the euro area … euro area as a result of entry. It examines the sensitivity of these results to a variety of assumptions about UK entry. …

-rate, target-zonearrangement, and fixed-rate or common currency) from January 1973 through January2004. My results support PPP, but … I find that PPP during the common currency regimeholds in fewer EMU countries than during the alternative exchange rate … regimes. Inaddition, PPP between currency blocs holds for all countries examined during the firsttwo regimes, but deteriorates …

effect of orthogonalization is more pronounced for exposure to currency indices. We also test symmetry in exchange rate …