This article provides estimates of the inflation-adjusted cost of equity for banks in six countries over the period 1990-2009. This cost is estimated using the single-factor capital asset pricing model (CAPM), where expected stock returns are a function of risk-free rates and a bank-specific...

The intention of this paper is to investigate whether market-related factors have a stronger influence on the strategic decision-making of ventures in 'liberal market economies' than on that of their counterparts in 'coordinated economies.' Thereby, we focus on a particularly important strategic...

In many multivariate volatility models, the number of parameters increases faster than the cross-section dimension, hence creating a curse of dimensionality problem. This paper discusses specification and identification of structured parameterizations based on weight matrices induced by economic...

Although evidence suggests a correlation between fertility and employment, comparative studies on this topic are relatively scarce, particularly when considering the diverse ways in which the two variables interact in different countries. The aim of this article is to analyse the relationship...

This 2012 Article IV Consultation reports that the German economy’s performance has been remarkable despite facing considerable headwinds. Several conditions are now in place in Germany for a domestic demand-led recovery. Employment creation has been robust and unemployment at 5.3 percent is...

This paper presents an empirical evaluation of the strength of the Fisher effect which predicts a positive relationship between the nominal interest rate and inflation in the postwar period in the five major industrial countries, utilizing recently developed time series techniques. The results...