(1988) and Johansen and Juselius (1990) cointegration tests and VECM approach in investigating the dynamic linkages between …

The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In … integration of European financial markets emphasizing the enormous structural changes that came about since the euro has been …

reference currency is Euro, not U.S. dollars. The new currency will be a factor of stability which will reduce a lot of trading … losses due to local fluctuations of the dollar against euro. From 1 January 2003, the currency has been established in … relation to EURO. …

Financial market interdependence has been at the epicenter of the crisis in the euro area. This paper tests for the … euro area shocks from country-specific shocks. Financial contagion has been widespread during the crisis in the euro area … between the core and the periphery of the euro area. Global and euro area shocks have been important drivers of sovereign bond …

rate using Johansen (1988) and Johansen and Juselius (1990) multivariate cointegration and bound testing approach to … cointegration (Pesaran et al., 2001) over the period 1982Q2-2005Q4. We find a considerable support for the existence of long-run PPP …

loans interest rates in four countries from the euro area (Austria, Belgium, France and Italy), and in the Czech Republic … January 2004 to March 2010. Using Johansen cointegration and Granger causality tests on monthly data we investigate long …

) multivariate cointegration test, Granger causality/Block exogeneity Wald test based on VECM approach and Variance Decomposition … Analysis was employed to investigate the dynamic linkages between markets. Cointegration test confirmed a well defined long …

After the beginning of the euro area, countries in its periphery engaged in weighty borrowing from foreign private …