Financial Markets' Views about the Euro-Swiss Franc Floor
نویسندگان
چکیده
منابع مشابه
The Euro and Financial Markets
The financial landscape of Europe has been evolving rapidly in the past 20 years. The introduction of the euro and the inception of the single monetary policy on January 1, 1999, accelerated the pace of change. However, it is clear that many driving factors foster transformation in the European financial system, including the Single Market Program, technological developments, financial innovati...
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We use a time-varying copula model to investigate the impact of the introduction of the Euro on the dependence between seventeen European stock markets during the period 1994-2003. The model is implemented with a GJR-GARCH-t model for marginal distributions and the Gaussian copula for the joint distribution, which allows capturing time-varying, non-linear relationships. The results show that wi...
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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2017
ISSN: 0022-2879
DOI: 10.1111/jmcb.12389