The connectedness of international equity markets can be measured building on the well-established forecast error variance decomposition framework. This approach permits the assessment of the propagation of shocks (spillovers) across equity markets on a day-to-day basis. The focus of our...

Most of Basel II and III financial regulations are based on data, treated in a statistical mindset. While regulators call for forward-looking risk management, they suggest no time-based modeling approach. In macroeconomic catastrophes modeling, this is a great setback. This paper reports the...

The aim of this paper is to derive the optimal inflation rate for the Euro Area (EA) countries from the relationship between relative price variability (RPV). In order to achieve the above stated goal, we have utilized monthly data for the Harmonized Index of Consumer Prices between January 1997...

Traditional specifications of export equations incorporate foreign demand as a demand pull factor and the real exchange rate as a relative price variable. However, such standard export equations have failed to explain the export performance of euro area countries during the crisis period. In...

Little empirical research has been undertaken on fuel poverty in France. Fuel poverty can be measured in a number of ways; therefore we analyze the impact of three different measurement approaches on the extent of fuel poverty and the composition of the fuel poor households in France. Then, we...

This paper studies the impact of credit rating agency (CRA) downgrade announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012.GARCH modeling of sovereign bond yields and...

Renewable energy deployment is growing rapidly on a global scale. China, Germany, Japan and the US are among the countries with highest capacity of renewables installed. In Germany, for example, the large growth in renewable power generation (RPG) capacities in the past has been mainly due to...

The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

Timely and accurate signals about the current state of the economy are essential for analysts. The objective of the paper is to compare the accuracy of PMI-based nowcast of current quarter-on-quarter real GDP growth with that of the flash GDP estimateIn-sample regressions for 1998Q3-2011Q1...

In September 2013, the EU Parliament has called for a 6% limitation of crop-based biofuels (instead of 10% initially) and proposed a 2.5% binding incorporation target for cellulosic biofuels by 2020. In spite of this stated objective, the horizon of a large-scale adoption for advanced biofuels...