Vol. 82, No. 3
Third Quarter 1997
Bank Deposits and Credit As Sources of Systematic Risk
Robert A. Eisenbeis
This article investigates the various theories of financial panics and crises with particular emphasis on the links between credit and deposits.
Decision Time for European Monetary Union
Joseph A. Whitt Jr.
This article examines the economic and political factors that will determine whether monetary union proceeds on schedule and, if so, which countries are likely to be initial members.
The Role of Currency Derivatives in Internationally Diversified Portfolios
Peter A. Abken and Milind M. Shrikhande
The use of currency derivatives in internationally diversified portfolios can help mitigate foreign exchange risk. This article investigates the impact of currency hedging on these portfolios, in particular index portfolios of stocks and bonds from markets in seven industrialized countries.
Common Trends and Cycles and the Structure of Florida's Economy
The author of this article uses multiple cointegration and common cycles analysis to study the interrelationships of labor markets in six Florida MSAs over the past quarter-century.