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This paper aims at decomposing the forecast error variance of excess returns in five major European stock markets into the variance of news about future excess returns, dividends and real interest rates. Special emphasis is given on the issue of stationarity and structural breaks in the...
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relations between six important world markets - U.S., U.K., Germany, Japan, China and India from January 2000 until December … 2010. We found that while the developed ``western'' markets (U.S., U.K., Germany), are highly correlated, the …
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