Niang, Abdou-Aziz; Diagne, Abdoulaye; Pichery, Marie-Claude - Volkswirtschaftliche Fakultät, … - 2010
The aim of this paper is to analyze the relationships between common shocks affecting the real economy and those underlying co-fluctuations in U.S. financial markets. In order to do this, we test for links between these common factors and also use the econometric theory of nonstationary panel...