This paper test for causality between the US Dollar-Euro exchange rate and US-EMU bond yield differentials. To that end … existence of statistically significant Granger causality running one-way from bond yield differentials to the exchange rate, but …Este trabajo realiza un contraste de causalidad entre el tipo de cambio dólar estadounidense- euro y el diferencial de …

by means of threshold cointegration and asymmetric error correction modeling. The study provides evidence for non …-linear cointegration between our variables of interest. The estimated asymmetric error correction models provide new evidence for slower …

This paper uses Johansen’s cointegration to test for the possibility of co-integration and Granger-causality to …-run relationship before and during the crisis. The Granger-causality tests show a uni-directional causality running from M2 to ASI … before the crisis while during the period of the crisis there is absence of causality between the variables. This suggests …