This paper examines the long-run relationship between oil prices and stock market prices of G7 countries by using Robinson (1994a) tests for fractional integration and cointegration instead of the classical approaches. Having found that the unit root null hypothesis cannot be rejected for any...

Stock market integration of CEE-4 (the so-called Visegrad group or V4) and G7 countries is examined during the period from January 4, 1998 to August 5, 2012. As a proxy of integration we use dynamic conditional correlations estimated in the standard DCC and asymmetric DCC model framework. It is...

In this paper, we examine the presence of convergence of real per capita incomes in G7 countries for the period of 1870-2008, using the group average and pairwise approach. Lee and Strazicich (2003, 2004) unit root tests that provide for structural break(s) are utilised to verify incidence of...

We investigate determinants of disagreement—cross-sectional dispersion of individual forecasts—about key economic indicators. Disagreement about economic activity, in particular about GDP growth, has a distinct dynamic from disagreement about prices: inflation and interest rates....

In this paper, we use the cross-correlation function developed by Cheung and Ng (1996) to investigate the dynamic linkages among G7 countries in the mean and volatility of stock prices from June 2, 2003, through July 31, 2010. In particular, we examined the impact of the American financial...

The convergence of air pollutants is a major concern for policy makers since all the countries pursue the goal of allocating the emissions equally internationally in the future. Hence the examination of the existence of convergence is important for the climate change protection of the earth. In...

This paper examines the impact of changes in real oil prices on the real stock returns of G7 countries. In addition to investigating the asymmetric effect of oil price shocks on stock returns, we also examine the effect of the performances of stock markets themselves, which are relevant to...