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financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration … European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds …
Persistent link: https://www.econbiz.de/10009353534
development since the euro introduction. We structured our paper on chapters that present its economic importance, the … growth since the introduction of the euro can be explained by developments in economic activity, the costs of issuance and … securities issued by non-monetary financial corporations. However, the use of corporate bonds at the euro area level is not …
Persistent link: https://www.econbiz.de/10008765633
reflect the different information which have been imbedded in the housing market in the long-time. The high volatility of the … Correction model (VEC) this relationship in the Euro Area on the supply side. The data source is the Euro Area Statistics of the … value of the dwellings determine a multiplied effect in the same direction in the employment in the Euro Area. …
Persistent link: https://www.econbiz.de/10011259684
The aim of this paper is to investigate the return and volatility linkages among Moroccan stock market with that of U … estimation results of bivariate VAR-BEKK GARCH model, we analyze the return and volatility spillover effects between the Moroccan …
Persistent link: https://www.econbiz.de/10011109176
This paper investigates fundamentals-based exchange rate predictability from a different perspective. We focus on …. Having used a nonparametric approach to identify swings in exchange rates, we examine the links between fundamentals and …, and our empirical evidence suggests that the uncovered interest parity fundamentals and Taylor rule model with interest …
Persistent link: https://www.econbiz.de/10009401339
fundamentals for various commodity prices have changed with a special emphasis on behavior since the mid 2000s. To identify … changing commodity price fundamentals we estimate shifting–mean autoregressions by using: the Bai and Perron (1998) procedure … suggestive of the causal fundamentals underlying the recent boom. …
Persistent link: https://www.econbiz.de/10009644780
listed firms. Then, we enrich them with fundamentals that utilize accounting information. The results suggest that by adding …
Persistent link: https://www.econbiz.de/10005621579
with the opinions expressed at the conference we decide to revise the fundamentals of the theory. So, there were settled … some criteria of knots identification, triplets assemble and plans definition. The main delimitation are euro …/national areas, micro/macro levels and socio/economic approaches. The revised fundamentals are based on a more structured view, able …
Persistent link: https://www.econbiz.de/10008645130
The relation between the degree of financial development of an economy (measured by the extent in which constraints to credit exist) and fluctuations affecting the trend of economic growth, is a relevant theme of discussion in macroeconomics. Some of the literature on this field argues that the...
Persistent link: https://www.econbiz.de/10005620066
A model of the term structure of lease rates in a frictionless economy is developed and its predictions are compared with data on residential leases in Japan. The model shows that the initial lease rate for a cancellable lease must be set higher than that for a non-cancellable lease because the...
Persistent link: https://www.econbiz.de/10011258927