We characterize the price discovery in three emerging EU stock markets — the Czech Republic, Hungary, and Poland — by employing high-frequency five-minute intraday data on stock market index returns and four classes of EU and U.S. macroeconomic announcements during 2004–2007. We account...

This EU supported Specific Targeted Research Project (STREP) had been conducted by a European Consortium composed of eight research institutions. Ifo's part within this larger programme was (a) to analyse the fiscal effects of privatization and (b) to assess the valuation of privatization...