Barunik, Jozef; Vacha, Lukas - Institut ekonomických studií, Univerzita Karlova v Praze - 2009
In the paper we test for the different reactions of stock markets to the current financial crisis. We focus on Central … European stock markets, namely the Czech, Polish and Hungarian ones, and compare them to the German and U.S. benchmark stock … contribution. The energy of a scale is proportional to its wavelet variance. The decompositions of the tested stock markets show …