The European Community in the international trading system. The future of the international trading system / Brian Hindley -- Commentaries on part one / Herbert Giersch, Jules L. Katz, and Norbert Walter -- Implications for Japan and the NICs. External trade implications of Europe 1992 for Japan...

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...