The aim of this paper is to investigate the effects of the European Monetary Union on the hypothesis of an integrated European Capital Market from January 1993 to December 2004. The extent of the period and the use of Fama and MacBeth [1973]'s methodology for estimating a large number of...

This study analyses the repercussions of the existence of minimum price variations(ticks) to different market variables. Specifically, we focus on the behaviour of bid-askspread, market depth, trading activity, volatility and investor order submission strategies. Weuse the change which occurred...

This paper analyses whether the impact of European shocks in the Spanisheconomy has increased after the entry of Spain in the European Community. UsingVAR models, we try to disentangle whether the change in the importance of Europe isdue to a change in the size of the shocks or in the...