21st Century economy is full competitive market structure,severe capitalism exists in markets.Both capitalism and full competition requires monetary policy to increase demand in business markets.Because markets and fi...21st Century economy is full competitive market structure,severe capitalism exists in markets.Both capitalism and full competition requires monetary policy to increase demand in business markets.Because markets and firms face isomorphism threats that make competition severe.European Monetary System has gold-euro relations.ECB runs like second IMF in global and European economy.There may be need of third IMF in global economy.It may establish in China as Asia Central Bank.All three IMFs enable monetary authorities to apply effective monetary policy in global economy.Because capitalism requires money and monetary for demand in 21st Century.In addition,without third IMFs,ECB currently apply propositions of neoclassical monetarism in Europe.That policy would support demand and firms in European economy as it is very much important in global economy.展开更多
The paper aims at verifying if there still are advantages in diversification inside the Eurozone despite the economic and monetary unification process. The results show unambiguously that notwithstanding the high degr...The paper aims at verifying if there still are advantages in diversification inside the Eurozone despite the economic and monetary unification process. The results show unambiguously that notwithstanding the high degree of correlation between the Eurozone stock markets, opportunities for diversification still exist. The introduction of constraints on short selling significantly reduces these benefits. Investors from the European leading countries would have greatly benefitted from a Eurozone portfolio diversification strategy. The advantages of diversification appear to change significantly over time and from country to country. The results are also conclusive in reflecting the instability of the historical mean-variance data.展开更多
文摘21st Century economy is full competitive market structure,severe capitalism exists in markets.Both capitalism and full competition requires monetary policy to increase demand in business markets.Because markets and firms face isomorphism threats that make competition severe.European Monetary System has gold-euro relations.ECB runs like second IMF in global and European economy.There may be need of third IMF in global economy.It may establish in China as Asia Central Bank.All three IMFs enable monetary authorities to apply effective monetary policy in global economy.Because capitalism requires money and monetary for demand in 21st Century.In addition,without third IMFs,ECB currently apply propositions of neoclassical monetarism in Europe.That policy would support demand and firms in European economy as it is very much important in global economy.
文摘The paper aims at verifying if there still are advantages in diversification inside the Eurozone despite the economic and monetary unification process. The results show unambiguously that notwithstanding the high degree of correlation between the Eurozone stock markets, opportunities for diversification still exist. The introduction of constraints on short selling significantly reduces these benefits. Investors from the European leading countries would have greatly benefitted from a Eurozone portfolio diversification strategy. The advantages of diversification appear to change significantly over time and from country to country. The results are also conclusive in reflecting the instability of the historical mean-variance data.
