The European experience with the creation of the single Market and the Maastricht Treaty has shown that political pragmatism and the adoption of transparent rules, especially in budget decisions, are means to reduce the structural gap between countries. However, the enlargement to new member...

We develops in this paper a nonlinear vector autoregressive model to study stock market interdependences. Among the innovations of this work, we introduce a structural break in the conditional variances-covariance’s matrix of multivariate GARCH process. We consider a BEKK expand with shocks to...

Adolph Wagner advances the idea that public expenditure follow the evolution of GDP. This long-run relationship, qualified as low, is not verified here in the case of France. Therefore, we include other variables and particularly political facts like electoral cycles and budgetary constraints...