reverberate around the world much more strongly than shocks from other regions, including the Euro area, while inward spillovers …

This paper, using T-GARCH models, finds that the United States has been the major source of price and volatility … Singapore also were important spillover sources within the Asian region and affected United States to a lesser degree during the … ""stock market correction"" period. There is also evidence of structural breaks in the stock price and volatility dynamics …

This paper interprets contagion effects as an increase in the volatility of aggregate shocks impinging on the domestic … banks borrow at a premium on world capital markets, and domestic producers (whose demand for credit results from working … capital needs) borrow at a premium from domestic banks. Higher volatility of producers’ productivity shocks increases both …

spillover of shocks following the bond market developments in Hong Kong SAR in 1997. Our results suggest that this contagion, at …