This paper argues that factor demand linkages can be important for the transmission of both sectoral and aggregate shocks. We show this using a panel of highly disaggregated manufacturing sectors together with sectoral structural VARs. When sectoral interactions are explicitly accounted for, a...

We expect a firm's competitive advantage to manifest itself in a return on invested capital that is higher than the opportunity cost of capital. Deviations of returns from the cost of capital are a signal for competitive entry or for exit, while the speed of convergence indicates the strength of...

We expect a firm's competitive advantage to manifest itself in a return on invested capital that is higher than the opportunity cost of capital. Deviations of returns from the cost of capital are a signal for competitive entry or for exit, while the speed of convergence indicates the strength of...

The purpose of this paper is to establish how far the process of financial integration has gone in the European Union. There is growing evidence that the appearance of the Euro has accelerated the integration of a number of financial markets among those countries who have adopted the Euro. We...

Both casual observation and empirical research suggest that developed equity markets around the world, including the major European markets, are now highly integrated. Financial integration is a key goal of the European Union (EU) and was one motive for the adoption of the euro. In this article,...

The purpose of this paper is to establish how far the process of financial integration has gone in the European Union. There is growing evidence that the appearance of the Euro has accelerated the integration of a number of financial markets among those countries who have adopted the Euro. We...

We expect a firm's competitive advantage to manifest itself in a return on invested capital that is higher than the opportunity cost of capital. Deviations of returns from the cost of capital are a signal for competitive entry or for exit, while the speed of convergence indicates the strength of...

This paper argues that factor demand linkages are crucial in the transmission of both sectoral and aggregate shocks. We show this using a panel of highly disaggregated manufacturing sectors together with sectoral structural VARs. When sectoral interactions are explicitly accounted for, a...

The purpose of this paper is to establish how far the process of financial integration has gone in the European Union. There is growing evidence that the appearance of the Euro has accelerated the integration of a number of financial markets among those countries who have adopted the Euro. We...