markets and a low price elasticity of tradables can account quantitatively for these properties of real exchange rates. The …

doubled or tripled their impact on other stock markets. At the same time, there is evidence that sectors have become more …Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the … January 1986 and October 2002. We find that, during the late 1990s, the worldwide importance of European equity markets has …

segments, namely money markets, bond markets, equity markets and banking. Finally, we discuss recent policy initiatives aimed …

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative …

markets. This study concentrates on the implications of the changing structure of security returns for asset management. Using … recent euro area stock markets data, we find clear evidence that diversification over industries yields more efficient …

’s problems related to capability development and restructuring of the defence industries and markets. On the other hand, national …