The aim of this chapter is made to test the validity of purchasing power parity (PPP) between the Slovak Republic vis-à-vis the member countries of Visegrad Group using Augmented Dickey-Fuller (ADF) test for unit root and various techniques inspecting the presence of cointegration (i.e. the...

This paper provides a new perspective on the exchange rate disconnect puzzle by referring to the expectations building mechanism in foreign exchange markets. Therefore, we analyze the role of expectations regarding macroeconomic fundamentals for expected exchange rate changes. In doing so, we...

This paper assesses the role of financial variables in real economic fluctuations, in view of analysing the link between financial cycles and business cycles at the global level. A Global VAR modelling approach, which has been proved suitable for modelling country or regional linkages, is used...

We analyze existing definitions of carbon leakage and propose a new rigorous one. This is then tested using computable general equilibrium analysis for unilateral carbon dioxide abatement programs in the European Union in 2020, adopted under the United Nations Framework Convention on Climate...

A key aspect of understanding how regions grow is the interplay between jobs in the tradable and jobs in the non-tradable sector. Jobs in the tradable sector supply the world market and can therefore move from region to region, but every region has a local demand for non-tradable goods and the...

Evidence on the effectiveness of FX interventions in the prevailing higher frequency approaches leaves a gap at horizons going beyond a few days. This is addressed by identifying a structural vector autoregressive model for the daily frequency with an external instrument. Using Japanese data, we...

I study the pricing of American Depositary Receipts around FOMC meetings to identify the impact of US monetary policy on managed exchange rates. ADR investors assess the domestic central bank’s reluctance to maintain a currency peg regime if the costs of mimicking policy rate increases in the...

The paper makes an analysis of socio-economic factors that influence food consumption levels in terms of income evolution at regional level and also a comparison with EU average and several regions from Poland; it also presents the dispersion of regional GDP per inhabitant and its influence on...