innovations. We apply the Campbell (1991) decomposition for industry-by-country, all-country, global industry, and world market … discount rates arising from perceptions of common elements of risk, rather than national market segmentation. …

indirect taxes associated with stock market transactions slow real per capita output growth. Thus, given different policies …

This paper articulates a model of the small, open economy in which the stock market, rather than the bond market … more standard framework. In particular, if the stock market effects are important enough, then a monetary expansion can … effects on future productivity lead to strong enough stock market effects, lead to an output expansion, rather than a …

The notion of asset market efficiency -- that market prices "fully reflect" all available information -- requires the … empirically, the latter using daily stock market data, the impact of a number of factors on the efficacy of this mechanism: the … by the stock market. …

We undertake a decomposition of the risk factor loadings of fifteen national stock market returns from 1972 to 1990 …

increased since the announced opening, with most of the effect on the opening prices of the Korean stock market. …

. We find that U.S. holdings of a country's equities are positively related to the share of that country's stock market …

their trading obligations of being on the opposite side of the market they are in almost 85 percent of their trades, buying …