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 Baltic is the largest brackish water system in the world. Its only connection to more open seas are the shallow sounds between Sweden and Denmark. x01x02 The sea is slowly shrinking because of geological uplifting of land after the last glaciation. x01x02 In many respects the Baltic is...

Die baltische Dimension der europäischen Fischerei Die Ostsee ist ein halbumschlossenes Meer. Während die Vielfalt der Fischarten in der Ostsee im Vergleich zu anderen Gewässern gering ist, spielt Fisch noch immer eine wichtige Rolle auf dem regionalen Speiseplan. In der Ostsee leben...

With its endless expanse of coniferous forests, mires and lakes, the Boreal Region forms part of a distinct band of vegetation which circles the entire northern hemisphere. Habitat types blend seamlessly into one another, creating a characteristic mosaic landscape of forests and wetlands. Along...

Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining such a pattern. It is shown in this paper that this...

This study empirically examines the development of the high-yield segment of the corporate bond market in the United States, as a pioneer country, and the United Kingdom and the euro area, as later adopting countries. Estimated diffusion models show for the United States a significant pioneer...