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| Author: | Shirreff, D. |
| Title: | Rewriting history |
| Journal: | Euromoney
1997 : OCT, 10, p. 59-61 |
| Index terms: | EUROPEAN MONETARY SYSTEM FORECASTING FUTURE PRICING UNCERTAINTY |
| Language: | eng |
| Abstract: | For investors, traders, risk managers and regulators, January 4. 1999 represents something of a black hole. Monetary history becomes redundant when confronted with the new currency. Everybody has come to rely, to a lesser or greater extent, on time-series data and historical volatility as a guide to pricing the risk they are taking and the likelihood of price movements in the future. It will be a potential nightmare in anywhere where institutions have big euro positions, but it will be temporary: the uncertainty will decay daily as tick data for the euro accumulate. |
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