The paper looks into the level of integration of commodity markets in India, across centres and states using consumer price data. It measures the extent to which domestic markets for goods in India are integrated, and recommends policy options to facilitate integration. The paper addresses...

This paper employs a pair-wise approach to examine regional integration in the US gasoline market. Using gasoline price data at the state level over a period of more than two decades, we find strong support for the view that the law of one price holds in regional markets, as more than 80% of...

In this paper we empirically explore how characteristics of the domestic financial system in uence the international allocation of consumption risk using a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the...

In this paper we empirically explore how characteristics of the domestic financial system influence the international allocation of consumption risk using a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the...

Für den Erfolg eines Finanzplatzes ist die Vernetzung mit anderen Finanzplätzen ein wichtiger Erfolgsfaktor. Dieser Artikel untersucht die internationale Vernetzung des Finanzplatzes Zürich. Zu diesem Zweck wird eine Netzwerkanalyse durchgeführt, die auf den Beteiligungen von international...

Financial liberalization and integration have generated disappointing results. They were supposed to set up a win-win situation: capital would flow from capital-abundant, low-return, aging industrial countries to capital-scarce, high-return, young emerging countries. Growth in receiving...

We characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans both developed and emerging market economies. Measured ex post uncovered interest differentials are then related to measures of trade and financial...

This paper provides a brief analysis of three major questions raised in the context of the recent global financial crisis. First, how similar is the crisis to previous episodes? We argue that the crisis featured some close similarities to earlier ones, including the presence of credit and asset...

From a strictly formal point of view, employment regulation in Czechia, Hungary, Poland and Slovakia (CEECs) provides an acceptable level of protection for employees. However, workers' formal rights are being violated and circumvented on a massive scale. Because the oversight system is...