Papaioannou, Elias; Portes, Richard; Siourounis, Gregorios - 2006
currencies. Making various assumptions on expected currency returns and the variance-covariance structure, we assess how the euro …Foreign exchange reserve accumulation has risen dramatically in recent years. The introduction of the euro, greater … market countries (Brazil, Russia, India and China), adding constraints that reflect a central bank’s desire to hold a sizable …