This article models industrial new orders across the European Union (EU) countries for various breakdowns. A common modelling framework exploits soft (business opinion surveys) as well as hard data (industrial turnover). The estimates show for about 200 cases that the model determinants...

Focusing on the years 1980–1995 and providing empirical evidence for six European countries, namely Germany, France, Italy, the UK, Belgium and the Netherlands, the author discusses whether cross-country variations in financial structure have a systematic relationship with inter-country...

Due to financial market imperfections it is imperative to analyse the relationship between financial structure and the monetary policy transmission process in Europe to effectively design and implement European monetary policy. Focusing on the years 1980-1995 and providing empirical evidence for...

This article empirically models China's stock prices using conventional fundamentals: corporate earnings, risk-free interest rate and a proxy for equity risk premium. It uses the estimated long-run stock price misalignments to date booms and busts, and analyses equity market reforms and excess...

This study examines the macroeconomic determinants of corporate debt securities in the euro area. The financing costs, as approximated by the cost of debt securities vis-a-vis other sources of corporate finance, and financing needs, as captured by mergers and acquisitions and gross domestic...