We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...

This paper examines the sources of fluctuations in inflation and output in two leading transitioneconomy candidates for admission to the European Union (EU), Poland and Hungary. Using a rational expectations, dynamic open economy aggregate supply- aggregate demand model, we consider real oil...

Kazakhstan possesses extensive natural resources reserves that are expected to yield significant export revenues. Since Kazakhstan's attaining independence in 1991, the composition of exports has changed in favor of energy-related sectors. In the context of such evidence and considerable...

A consumer-choice model developed by Enders, Sandler and Parise (1992) is utilized to study the regional effects of terrorism on competitors' market shares in tourism sector where involved countries enjoy significant tourism activities but are subject to high frequency of terrorist attacks. The...

The KOSPI (Korea Composite Stock Price Index) 200 options are one of the most actively traded derivatives in the world. This paper empirically examines (a) the statistical properties of the Korea's representative implied volatility index (VKOSPI) derived from the KOSPI 200 options and (b) the...