This paper builds a general test of contagion in financial markets based on bivariate correlation analysis – a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return. Using a...

In recent years, a number of researchers have questioned the traditional notion of the producer as the sole generator of innovation in buyer seller relationships. Increasingly, innovation generation has been recognized as an outcome of interaction between a firm and various outside entities....

The well-known Easterlin paradox points out that average happiness has remained constant over time despite sharp rises in GNP per head. At the same time, a micro literature has typically found positive correlations between individual income and individual measures of subjective well-being. This...

In this paper we use correlation analysis and Granger causality tests of time series to investigate the impact of financial derivatives on the real economy. We obtained statistically strong and mutually compatible results. Over the period under review have as exchange trade derivatives...