We use multivariate regime switching vector autoregressive models to characterize the time-varying linkages among the Irish stock market, one of the top world performers of the 1990s, and the US and UK stock markets. We find that two regimes, characterized as bear and bull states, are required...

An aggregate consumption function for the Czech Republic since its transition to market status is estimated. Economic theory and the 'general to specific' methodology are used to guide the choice of dynamic equation. Previous empirical evidence on the consumption function in Eastern Europe...