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Author : Giorgio De Santis
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.3/5 ( download)
Download or read book Relevance of currency risk in the EMU written by Giorgio De Santis and published by . This book was released on 1999 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : R. Friberg
Publisher : Springer
ISBN 13 : 0333982371
Total Pages : 179 pages
Book Rating : 4.3/5 (339 download)
Download or read book Exchange Rates and the Firm written by R. Friberg and published by Springer. This book was released on 1999-07-26 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to provide an integrated treatment of financial and operating strategies to exchange rate variability. The choice of price-setting currency, when and how to adjust prices, the limitations of hedging and segmentation of national markets are some of the issues analyzed. The book investigates the impact of EMU.
Author : David A. Currie
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.3/5 ( download)
Download or read book The Pros and Cons of EMU written by David A. Currie and published by . This book was released on 1997 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wayne E. Ferson
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.0/5 ( download)
Download or read book Economic, Financial, and Fundamental Global Risk in and Out of the EMU written by Wayne E. Ferson and published by . This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the different factors that drive expected returns in world markets. Our research offers two innovations. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset pricing models. We use a synthetic Euro excess return along with a Yen excess return to assess country equity sensitivities to currency risk factors. Second, when combining the currency factors with a group of economic factors, we measure the incremental information in the factor proposed in Fama and French (1998). We find that a global price-to-book factor offers little additional explanatory power over and above a model that includes economic risk factors.
Author : Wayne E. Ferson
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (129 download)
Download or read book Economic, Financial, and Fundamental Global Risk in and Out of the Emu written by Wayne E. Ferson and published by . This book was released on 2010 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the different factors that drive expected returns in world markets. Our research offers two innovations. First, the introduction of the Euro currency unit greatly reduces the complexity of including foreign exchange risk in asset pricing models. We use a synthetic Euro excess return along with a Yen excess return to assess country equity sensitivities to currency risk factors. Second, when combining the currency factors with a group of economic factors, we measure the incremental information in the factor proposed in Fama and French (1998). We find that a global price-to-book factor offers little additional explanatory power over and above a model that includes economic risk factors.
Author : Gail D. Fosler
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 (97 download)
Download or read book Do Exchange Rates Matter? written by Gail D. Fosler and published by . This book was released on 2004 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey based report provides deep insights into whether, and how, exchange rate volatility shapes business investment decisions and risk management practices.
Author : Richard Friberg
Publisher : Palgrave Macmillan
ISBN 13 : 9780312220242
Total Pages : 174 pages
Book Rating : 4.2/5 (22 download)
Download or read book Exchange Rates and the Firm written by Richard Friberg and published by Palgrave Macmillan. This book was released on 1999 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Exchange Rates and the Firm is the first book to provide an integrated treatment of financial and operating strategies with respect to exchange rate variability. Theory and evidence on strategies for handling exchange rate variability from many areas of study in economics are assembled and assessed, with a focus on operating strategies. The non-technical presentation makes it well suited for advanced undergraduate and MBA students, practitioners and researchers who want an accessible synthesis of current research in this topical and important field of economic theory and practice."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Author : Mr.Thomas Krueger
Publisher : International Monetary Fund
ISBN 13 : 9781557756640
Total Pages : 580 pages
Book Rating : 4.7/5 (566 download)
Download or read book EMU and the International Monetary System written by Mr.Thomas Krueger and published by International Monetary Fund. This book was released on 1997-09-10 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Paul R. Masson, Thomas Krueger, and Bart G. Turtelboom, contains the proceedings of the seminar held in Washington, D.C. on March 17-18, 1997, cosponsored by the IMF and Fondation Camille Gutt. Conference participants discussed implications of European Economic and Monetary Union (EMU) on exchange and financial markets, and consequently on the activities of market participants and private and official institutions. The five main themes of the seminar were the characteristics of the euro and its potential role as an international currency; EMU and international policy coordination; EMU and the relationship between the IMF and its EMU members; lessons of European monetary integration for the international monetary system; and the transitioin to EMU.
Author : Alastair Graham
Publisher : Routledge
ISBN 13 : 1135957258
Total Pages : 134 pages
Book Rating : 4.1/5 (359 download)
Download or read book Introduction to Currency Risk written by Alastair Graham and published by Routledge. This book was released on 2013-11-26 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Currency Risk Management series offers readers, researchers, and financial professional a time-tested training tool for understanding and working in the increasingly complex currency markets. This series breaks new ground in simplicity, clarity, and ease of application in risk management practice.
Author : Mr.George Kopits
Publisher : International Monetary Fund
ISBN 13 : 1451842570
Total Pages : 42 pages
Book Rating : 4.4/5 (518 download)
Download or read book Implications of EMU for Exchange Rate Policy in Central and Eastern Europe written by Mr.George Kopits and published by International Monetary Fund. This book was released on 1999-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In view of the requirements of Stage 2 of European Monetary Union (EMU) for accession to the European Union, this paper examines the desirability for, and the ability of, the lead candidates in Central and Eastern Europe to participate in the new exchange rate mechanism (ERM2) and eventually in EMU. For most of these countries the benefits are likely to outweigh the cost of participation. After successfully meeting the basic conditions (wage flexibility, prudent fiscal and monetary stance, financial system soundness) for ERM2, each candidate should be able to shadow the euro, with sufficient flexibility around the central rate, prior to formal participation. The paper concludes with a discussion of two policy dilemmas.
Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 1451847823
Total Pages : 38 pages
Book Rating : 4.4/5 (518 download)
Download or read book Characteristics of the Euro, the Demand for Reserves, and Policy Coordination Under EMU written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1997-05-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of European Economic and Monetary Union (EMU) will depend on the stability of the euro. The monetary policy framework is yet to be decided, but is likely to involve either money or inflation targeting. Stochastic simulations compare the outcomes for major macroeconomic and financial variables pre- and post-EMU under both policy rules, as well as under an inflation targeting rule that includes output. Implications for the euro as a reserve currency are examined in the light of the expected returns and covariances among reserve currencies. The role of the exchange rate as an indicator and incentives for policy coordination with other major countries are also discussed.
Author : Lars Calmfors
Publisher : Springer Science & Business Media
ISBN 13 : 1461561833
Total Pages : 372 pages
Book Rating : 4.4/5 (615 download)
Download or read book EMU — A Swedish Perspective written by Lars Calmfors and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: EMU - A Swedish Perspective provides a comprehensive and up-to-date survey of the EMU project. The main advantages and disadvantages of a single currency are evaluated. A key feature of the analysis is the attempt to integrate economic and political aspects. The book is a revised version of the report by the Swedish Government Commission on the EMU. Although the analysis focuses on the consequences for Sweden of joining versus not joining the monetary union, it is highly relevant for the discussion in all EU countries. The book provides an in-depth analysis of how the demands on economic policy will be affected by the monetary union. Various chapters discuss monetary policy and inflation, fiscal policy, unemployment and labour markets, the transition to monetary union, and the exchange-rate arrangements between participants and non-participants. Other chapters analyse the importance of the EMU for European political integration, democratic aspects, and how membership in the monetary union will affect the possibilities for an individual member state to exert influence within the EU. EMU - A Swedish Perspective should be of interest to professional economists and political scientists, students, and all others who want to form an opinion about the monetary union on the basis of a balanced assessment of the consequences. EMU - A Swedish Perspective provides a comprehensive and up-to-date survey of the EMU project. The main advantages and disadvantages of a single currency are evaluated. A key feature of the analysis is the attempt to integrate economic and political aspects. The book is a revised version of the report by the Swedish Government Commission on the EMU. Although the analysis focuses on the consequences for Sweden of joining versus not joining the monetary union, it is highly relevant for the discussion in all EU countries.
Author : Mr.Alessandro Prati
Publisher : International Monetary Fund
ISBN 13 : 1451848250
Total Pages : 62 pages
Book Rating : 4.4/5 (518 download)
Download or read book European Monetary Union and International Capital Markets written by Mr.Alessandro Prati and published by International Monetary Fund. This book was released on 1997-05-01 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the structural implications of EMU for international capital markets. It discusses the potential size of euro capital markets and the existing roles of European currencies in international capital markets. The paper also examines the euro’s impact on international securities markets, including the role of the ECB, the evolution of EMU securities markets, and aspects of systemic risk management. The implications for wholesale and retail banking markets are also discussed, as are the broader implications of the introduction of the euro for changes in international capital flows, international portfolios, and by implication exchange rates.
Author : Ulrich Machold
Publisher : GRIN Verlag
ISBN 13 : 3638161501
Total Pages : 18 pages
Book Rating : 4.6/5 (381 download)
Download or read book The Effects of EMU on European Capital Markets written by Ulrich Machold and published by GRIN Verlag. This book was released on 2003-01-04 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2001 in the subject Economics - Monetary theory and policy, grade: 1.2 (A), Technical University of Berlin (European Center), course: The EU as a common economy, language: English, abstract: Within the last three years, the European financial landscape has undergone a rapid transformation that continues to astonish observers and market participants alike: Corporate and public euro bond markets have emerged whose issuing activities rival those of respective US dollar markets. Europe-wide indices have been firmly established. Institutional portfolios are being traded along pan-European sectoral rather than national lines. Cross-border mergers of banks and financial institutions on an unprecedented scale are drastically changing national banking landscapes as well as international financial structures and underlying all of this is the revolutionary emergence of a genuine European equity culture. Quite naturally, not all of these developments can be attributed to the eventual arrival of European Economic and Monetary Union (EMU). Many trends have had their precursors in the continuing liberalisation and de-regulation processes of the 1990s, as manifested in the 1992 Maastricht Treaty. However, historical data makes it difficult not to account for EMU as one major factor behind many of the most recent changes. In this paper, I will therefore argue that at least some of the above changes can best be explained by the effects of EMU. In several ways, the advent of the single currency has triggered an equilibrium shift in more than one field that would otherwise not have occurred. In order to do so, I shall first put EMU into perspective by briefly sketching its position within the wider framework of the process of European capital market integration by means of liberalisation. Second, I shall illustrate whether and to what extent the intended direct effects of EMU did in fact materialise, but also how further indirect effects go beyond these and contribute to explaining some seemingly less related developments. Last, I shall evaluate how integrated European capital markets in fact are compared to national markets, using the U.S. as a benchmark, and close with a brief discussion of potential normative implications.
Author : Commission of the European Communities. Directorate-General for Economic and Financial Affairs
Publisher :
ISBN 13 :
Total Pages : 366 pages
Book Rating : 4.F/5 ( download)
Download or read book One Market, One Money written by Commission of the European Communities. Directorate-General for Economic and Financial Affairs and published by . This book was released on 1990 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 1451844581
Total Pages : 40 pages
Book Rating : 4.4/5 (518 download)
Download or read book Evaluating the EMS and EMU Using Stochastic Simulations written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1993-03-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evaluations of European monetary integration using model simulations have given conflicting results, and the paper attempts to elucidate the reasons for the differences. Several features stand out: how to model realignments; how monetary policy is set for individual countries or for Europe; and how large are risk premium shocks in exchange markets. We quantify the effects of different assumptions relating to these features using MULTIMOD.
Download or read book Possible Effects of EMU on the EU Banking Systems in the Medium to Long Term written by and published by . This book was released on 1999 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
