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In this paper we analyze the dynamic conditional correlations between CEE stock markets (also known as countries from Vysehrad Group - V4) and developed European stock markets, with German DAX utilized as a benchmark. Our methodology is based on the DCC MV-GARCH approach. It is shown that the...
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instrument of portfolio diversification, at least in relative terms, since the correlation to the Czech bond market was weak …. Contrariwise, the correlation among the Czech, U.S., and European stock markets increased in time, restricting the room for …
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