In this paper we investigate the effect of financial deregulation on the relationship between the macro-economy and the share market within the framework of a VAR using quarterly Australian data for four variables - aggregate share prices, real output, the term premium and the default premium....

The period of the global financial crisis can be characterized by the spillover of negative innovations among stock markets worldwide. Stock markets in Central Europe were not excluded as they are not isolated from global stock markets. Recently published scientific studies dealing with this...