The advent of the euro is a significant event for portfolio managers, both within and outside the monetary union. The euro will affect portfolio decisions through a variety of channels and the emergence of a single currency marks the disappearance of explicit and psychological barriers to international investing. The set of investment opportunities qualifying as 'domestic' is expanding, while the need for diversification across currencies must now be met by an increased demand for assets which are not denominated in euros. This paper examines the principal factors influencing the portfolio reallocation process following the introduction of the euro. Three broad categories of possible portfolio allocation are considered: domestic versus non-domestic investment, debt versus equity investment, and public debt versus private debt investment.
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Jean-Pierre Danthine, Université de Lausanne and CEPR.
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First Sentence:
The advent of the euro is a significant event for portfolio managers, both within and outside the Monetary Union. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
pre convergence, curo area, convergence period, corporate bond market, home bias, sector indices, optimal asset allocation, portfolio reallocation, minimum variance portfolio, capital adequacy rules, euro area, return correlations, currency risk, international diversification, international investing, portfolio allocation, risky assets Key Phrases - Capitalized Phrases (CAPs): (learn more)
Scope of Portfolio Adjustment, Member States, Total Geofocus Domestic, Country Pairs, Tangent Portfolio New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
The advent of the euro is a significant event for portfolio managers, both within and outside the Monetary Union. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
pre convergence, curo area, convergence period, corporate bond market, home bias, sector indices, optimal asset allocation, portfolio reallocation, minimum variance portfolio, capital adequacy rules, euro area, return correlations, currency risk, international diversification, international investing, portfolio allocation, risky assets Key Phrases - Capitalized Phrases (CAPs): (learn more)
Scope of Portfolio Adjustment, Member States, Total Geofocus Domestic, Country Pairs, Tangent Portfolio New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
- Institutional Investors by E. Philip Davis in Back Matter
- European Union (Aspects of Britain) by Central Office of Information on page 32
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