haku: @author Dewachter, H. / yhteensä: 6
viite: 2 / 6
| Tekijä: | Dewachter, H. Maes, K. Smedts, K. |
| Otsikko: | Monetary unification and the price of risk: an unconditional analysis |
| Lehti: | Weltwirtschaftliches Archiv
2003 : VOL. 139:2, p. 276-305 |
| Asiasana: | EMU Monetary integration Pricing Risk sharing |
| Kieli: | eng |
| Tiivistelmä: | The standard international arbitrage pricing theory is used in this paper to assess the effects of European monetary unification on the functioning of the European financial market. The focus is particularly on the effects that unification may have on the risk-sharing capacity of the financial markets. The results indicate that already in the EMU decade, exchange rate changes do not (unconditionally) correlate strongly with financial market movements across countries. |
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