This paper examines the monetary policy implications from the greater integration of major capital markets using long-term interest rates. Proof that globalization has affected the behavior of interest rates and made them more synchronized across countries is provided from the way disturbances...

This paper re-examines the volatility transmission mechanism within EMS and revisits the 'German Dominance Hypothesis' using short-term interest rates. The results, basically, support the idea of a German predominance within the European Monetary System, but not in a strict sense, since...

This paper examines the dynamic linkages among the equity market, economic activity, inflation and monetary policy since the 1970s. The main findings are as follows. First, bivariate results for the linkages between real stock returns and inflation confirm the surprising result of negative...

This paper examines the dynamic interactions among the equity market, economic activity, inflation, and monetary policy under three monetary policy regimes using bivariate and multivariate Vector Autoregressive cointegrating specifications. The bivariate results for the real stock...

This paper examines the monetary policy implications from the greater integration of major capital markets using long-term interest rates. Proof that globalization has affected the behavior of interest rates and made them more synchronized across countries is provided from the way disturbances...

This paper re-examines the volatility transmission mechanism within EMS and revisits the 'German Dominance Hypothesis' using short-term interest rates. The results, basically, support the idea of a German predominance within the European Monetary System, but not in a strict sense, since...

This paper examines the implications from the greater integration of major capital markets using long-term interest rates. The empirical approach is a Vector Autoregression which examines the nature of the monetary spillover mechanism across eight markets namely, Canada, France, Germany, Japan,...

This paper examines the extent to which fiscal policy actions affect the stock market's behavior for the US during 1968-2005. The findings are consistent with the hypothesis that past budget deficits negatively affect current stock returns thus suggesting that the market is inefficient with...