This article analyzes the degree of convergence of financial development for a panel of 50 countries. We apply the methodology of Phillips and Sul (Econometrica 75:1771–1855, <CitationRef CitationID="CR58">2007</CitationRef>) to various indicators of financial development to assess the existence of convergence clubs. We consider ten...</citationref>

Purpose – To investigate whether monetary volatility in the US exerts any asymmetric impact on output volatility over the period 1974-2002. Design/methodology/approach – For the empirical purposes, the analysis makes use of the multi-variable GARCH (MVGARCH), which allows not only the...

Purpose – To investigate whether monetary volatility in the US exerts any asymmetric impact on output volatility over the period 1974‐2002. Design/methodology/approach – For the empirical purposes, the analysis makes use of the multi‐variable GARCH (MVGARCH), which allows not only the...