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 study estimates educational production functions for seven eastern European transition countries, using student-level data for lower secondary education. The analysis several distinctive features. First, the countries can be divided into two groups, which share similar characteristics in...