The aim of this article is to develop new international banking integration indicators together with their components: openness and regularity (balance) of the bilateral bank flows. We define the Standard of Perfect Banking Integration (SPBI), which characterizes the scenario attainable when...

We examine how oil prices and exchange rates co-move using two measures of dependence: correlations and copulas and document two main findings for crude oil prices and a range of currencies: oil price–exchange rate dependence is in general weak, although it rose substantially in the aftermath...

The ongoing fiscal and financial crisis with significant macroeconomic imbalances in the euro area raises the question in how far public–private wage interaction and even wage spirals contribute to fiscal and competitiveness problems. In this vain we analyse empirically whether the evolution...