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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...
Persistent link: https://www.econbiz.de/10009635881
. In the US, the unemployment rate and the share of long-term unemployment grew very fast, during the crisis, thereby … unemployment? In other words, is the US labour market in the process of becoming more "European" in terms of size, composition and … dynamics? What would thus be the consequences in terms of outlook? This brief analyses the unemployment response to the crisis …
Persistent link: https://www.econbiz.de/10011291914
The global crisis has taken its toll on the EU’s prime position in international trade. While the EU still has the largest relative market shares, its position has deteriorated since the crisis, much more so than the US, and its comparative advantage in knowledge-intensive goods has been...
Persistent link: https://www.econbiz.de/10011298678
effects of stock market bubbles can contribute to business cycle synchronisation across economic areas. …
Persistent link: https://www.econbiz.de/10009635970
On the face of it, Austria’s labour market performs very well, which is reflected in one of the lowest unemployment … rates in the EU. However, while many of the euro area members have recently succeeded in reducing unemployment, the Austrian …. In addition the unemployment statistics are distorted by the relatively low labour force participation of older workers …
Persistent link: https://www.econbiz.de/10009661734
feature of the Finnish economy compared with that of Sweden and Denmark is the higher level of unemployment. In the early 1990 … adapt. The spectacular recovery of the Finnish economy has pushed up labour demand. While unemployment has fallen back from …
Persistent link: https://www.econbiz.de/10009668588
Persistent link: https://www.econbiz.de/10009668589
Four years after the introduction of the euro, this paper provides an overview of the current structure and integration of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure with that of the United States and Japan. Using new and...
Persistent link: https://www.econbiz.de/10009635984
This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...
Persistent link: https://www.econbiz.de/10009636533
The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact on the economies of member countries in the past decade. In particular, several studies indicate that the proceeding economic integration among euro area countries has important...
Persistent link: https://www.econbiz.de/10009636550