Copulas offer financial risk managers a powerful tool to model the dependence between the different elements of a … an accurate copula for risk management. We extend standard goodness-of-fit tests to copulas. Contrary to existing …

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral … euro's impact on financial integration is primarily driven by eliminating the currency risk. Legislative …

This Paper focuses on the pass-through of exchange rate changes into the prices of imports made by euro area countries … industry-specific rates of pass-through across and within countries for all euro members. In the short run, pass-through rates …-through rates across industries and countries can be rejected. Differences exist across euro area countries in the degree that a …

A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international … exchange rate volatility, even after controlling for a host of features, including the endogenous nature of the exchange rate …

Diversification opportunities in Euroland appear to have improved significantly since the advent of the euro, thus … the time series of return dispersions suggestive of cycles and long swings in return correlations. The most recent post-euro …

UK adopting the Euro. Instability increases substantially, particularly for inflation and real interest rates. A key … factor is the extent of the Euro's instability against the dollar; by adopting a regional currency the UK imports this source …

our analysis on the effect of the euro for the determinants of bond trade, equity and banking assets. With the help of a … theoretical model, we attempt to disentangle the different effects that the euro may have had on asset holdings for both euro zone … countries and countries outside of the euro zone such as Sweden. We find evidence that the euro has implied 1) a unilateral …