In this paper we propose to study if the standard and asymmetric dynamic conditional correlation (DCC) models, following Cappiello et al. (2006), may capture spillover effects and the degree of interaction with the European capital market using the DAX index as proxy. We found evidence that the...

This paper has a focus in considering the implications of the European integration for the present and future exchange rate arrangements between the European Union and Romania as an emerging country. The objective of this paper is to examine rather medium-term outlook for exchange rate...