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We use futures instead of forward rates to study the complete maturity spectrum of the forward premium puzzle from two days to six months. At short maturities the slope coefficient is positive, but these turn negative as the maturity increases to the monthly level. Futures data allow us to...
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the Euro ; import price elasticity ; panel data ; Kalman-filter ; structural vector autoregression …The introduction of the Euro has been accompanied by the hope that intra-EMU trade would increase and that prices would … converge due to increased elasticities of international substitution. This paper contributes to the literature on the Euro …
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We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … home currency invoicing after the introduction of the euro. In addition, the euro as a vehicle currency has overtaken the … role of the US dollar in Norwegian imports. The econometric analysis shows a significant effect of euro introduction above …
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