This empirical study attempts to measure the direction of effects related to systemic sovereign risk (i.e. proxied by CDS prices) on a number of asset prices in four heavily stressed European economies: Greece, Ireland, Italy and Spain. The paper is innovative in terms of addressing the...

<Para ID="Par1">The goal of this empirical paper is to investigate the impact of labor income taxes on long-run output. The study makes use of annual data from seven European South-Eastern countries, i.e., Albania, Bulgaria, Czech Republic, Croatia, Former Yugoslav Republic of Macedonia, Hungary, Romania,...</para>

Attempts to examine the relationship between budget (or public) deficits and exchange rates in eight OECD countries, namely Germany, the UK, Switzerland, Belgium, the Netherlands, Italy, France, and Canada over the period 1980‐1995 by using quarterly data and the methodologies of...

Purpose The purpose of this paper is to investigate contagion across eight major exchange rates by providing more information on the role of information spillovers. Design/methodology/approach The empirical analysis makes use of two methodologies that capture channels of contagion. Such...

Purpose This paper aims to provide fresh empirical evidence on how Federal Open Market Committee (FOMC) monetary policy decisions from a benchmark monetary policy rule affect the profitability of US banking institutions. Design/methodology/approach It thereby provides a link between the...

Purpose – The purpose of this paper is to extend the existing literature on the causal dynamics between entrepreneurship and the unemployment rate (UR) in the use of the Kauffman Foundation index of entrepreneurial activity. Design/methodology/approach – Recently developed panel unit root...

Purpose – To investigate whether monetary volatility in the US exerts any asymmetric impact on output volatility over the period 1974‐2002. Design/methodology/approach – For the empirical purposes, the analysis makes use of the multi‐variable GARCH (MVGARCH), which allows not only the...

Purpose – The purpose of this paper is to estimate causality properties between real money demand and a number of determinants, i.e., real output, the lending rate and the real exchange rate, across ten Asian economies. Design/methodology/approach – The study makes use of the causality...