Frankreich ist im gegenwärtigen Euroland-Aufschwung der Nachzügler. Erstmals seit Einführung des Euro im Jahr 1999 blieb die Wachstumsrate seines realen Bruttoinlandsprodukts spürbar hinter derjenigen der gesamten Eurozone zurück. Kann Nicolas Sarkozy das Land wieder auf Wachstumskurs...

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...