ADJAOUTÉ, Kpate; DANTHINE, Jean-Pierre - Swiss Finance Institute - 2000
reduced. The culprit appears to be less the disappearance of currency risk than the convergence of economic structures and …/or the homogenisation of economic shocks (across the Euro-15 member states). This evolution should mark the end of pure … that international diversification does not pay: the cost of the home bias within Euroland has been lowered (in some cases …