Das ifo Institut hat bereits zu Beginn des europäischen Liberalisierungsprozesses die Organisation von Regulierungsbehörden untersucht. Der vorliegende Beitrag knüpft mit einem internationalen Vergleich der Regulierungsinstitutionen an diese Arbeiten an. Am Beispiel der...

We show that the behaviour of the real exchange rates of the UK, Germany, France and Japan has been characterized by structural breaks, which changed the adjustment mechanism. In the context of a Time-Varying Smooth Transition Autoregression (TV-STAR) of the kind introduced by Lundbergh et al....

This article investigates comovement in stock markets between the emerging economies of Central and Eastern Europe (CEE) and the developed markets of Western Europe. Three approaches are employed to examine this issue. The first two approaches, time-varying realized correlation ratios and...