European Capital Markets with a Single Currency

Table of contents

• Title Page iii
• Executive Summary vii
• Contents xi
• Contributors xiii
• 1 - European Capital Markets: Does the Euro Matter? 1
• 7. Conclusions 26
• References 28
• Part I - The Macroeconomics of Emu 31
• 2 - Emu, Monetary Policy and Capital Markets 33
• 5. Conclusions: Implications for Capital Markets 71
• References 74
• 3 - An International Role for the Euro? 76
• Part II - The Fixed-Income Markets 105
• 4 - Yield Spreads and Optimal Public Debt Management Under the Single Currency 107
• Appendix: Formal Analysis 117
• References 133
• 5 - The Exposure of International Corporate Bond Returns to Exchange Rate Risk 134
• 6. Conclusion 168
• References 169
• 6 - European Futures and Options Markets in a Single Currency Environment 171
• Part III - The Equity Markets 203
• 7: The European Single Currency and World Equity Markets 205
• 8 - European Stock Markets and European Unification 236
• References 261
• Part IV - Strategic Industry Implications 263
• 9 - The Asset Management Industry in Europe: Competitive Structure and Performance Under Emu 265
• References 307
• 10 the European Securities Industry Under a Single Currency 311
• Index 351

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