introduction of the euro greatly improved the functioning of euro financial markets. This paper investigates whether euro financial … markets have developed sufficiently to facilitate the emergence of the euro as a reserve currency on par with the US dollar …. We find that the liquidity and breadth of euro financial markets are fast approaching those of dollar markets, and as a …

Diversification opportunities in Euroland appear to have improved significantly since the advent of the euro, thus … the time series of return dispersions suggestive of cycles and long swings in return correlations. The most recent post-euro …

Diversification opportunities in Euroland appear to have improved significantly since the advent of the euro, thus … the time series of return dispersions suggestive of cycles and long swings in return correlations. The most recent post-euro …

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 …

and international holdings of individual sectors from euro area countries in individual bonds and stocks. The five holding …

The shift of perspective from a national basis to a Euro area basis, inevitably induced by EMU, has led member … countries to a parallel shift from equity home bias to equity Euro bias. We interpret this evidence by means of a standard mean …

of the 25 sampled floating currencies, excluding the US dollar and euro, there has been a noticeable decrease in the … ratio of a currency’s distance from the euro to its distance from the dollar during the period from 1999 to 2013. Evidence … that exchange risk has increased substantially is also found for dollar-based agents, while it has decreased for euro …

We examine the relative benefits of industrial versus geographical diversification in the Euro zone before and after … importance; from country to industry. However, this is not exclusive to the Euro zone but is also present for non-EMU European …