that the U.S. stock markets and other G-20 markets have experienced different driving forces since the start of the U.S … shocks emerging from it. The 2007-2009 financial crises can be considered a structural break in the long-run relationship and …

"credit crunch." Second, the daily risk premia co-move with US macro news and corporate default risk. Third, global factors …This study explores the risk premia embedded in sovereign default swaps using a term structure model. The risk premia …. First, the risk premia contribution to the spreads decreases over the sample, 2003-2007, and rebounds at the start of the …

Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small … aggregate risk sharing are more pronounced in states in which small firms account for a large share income or employment. In … to have loosened the dependence of aggregate risk sharing on the business cycle. Not only do our result support that …

sample period. Prominent among our results is that the crude oil market is an important net transmitter of volatility shocks …

currencies such as the Japanese yen, British pound, and U.S. dollar, there is nonlinear predictability in terms of economic …

and developing countries. Quoted against the US dollar, we study twenty-three global currencies over the time period 2005 …

. First, positive US financial shocks have a considerable positive impact on growth in the nine countries, and vice versa for … changes in the conduct of monetary policy. Third, the size of US financial shocks varies strongly over time, with the `global … collapses in house prices, exports and TFP are the main drivers of the strong worldwide propagation of US financial shocks …

. First, positive US financial shocks have a considerable positive impact on growth in the nine countries, and vice versa for … changes in the conduct of monetary policy. Third, the size of US financial shocks varies strongly over time, with the `global … collapses in house prices, exports and TFP are the main drivers of the strong worldwide propagation of US financial shocks …

by interest rate spreads, exchange rate risk, market capitalisation, and business cycle synchronisation in a pooled OLS … market capitalisation and hindered by foreign exchange risk between old member states and the euro area. Interest rate …