Eijffinger, Sylvester; Lemmen, J.J.G. - Tilburg University, Center for Economic Research - 1995
This paper applies Obstfeld's Euler equation tests to assess the degree of financial integration in the European Union. In addition, we design a new Euler equation test which is intimately related to Obstfeld's Euler equation tests. Using data from the latest Penn World Table (Mark 6), we arrive...
