This paper considers the benefits to Greece, the Euro zone and the rest of the world arising from policies that prevent … a Greek default and exit from the Euro, compares these benefits with the costs of the preventive policies and concludes …

before and during the recent financial crises originated from the subprime and the Euro sovereign bonds. We take the point of … view of a Euro-based institutional investor who considers passive investment strategies in portfolios holding European …

evidence that the introduction of the Euro affects the wealth effects of cross-listings within the Eurozone.Finally, this study …, after considering the effect of the introduction of the Euro and the adoption of SOX. The results show that significance of …

In this paper, we document how in the wake of monetary unification the markets for Euro-area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the Euro-area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that Euro-area bonds …

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 …

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 …

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 …

a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …