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regime at the beginning of the sample towards a low variance regime. The estimation results suggest that four permanent and …
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-specific and Europe-wide risk factors. The estimation results indicate a high, time-varying degree of spatial spillovers in the …
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Within the subprime crisis (2007) and the recent global financial crisis of 2008-2009, we have observed significant decline, corrections and structural changes in most US and European financial markets. Furthermore, it seems that this crisis has been rapidly transmitted toward the most developed...
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