This paper examines how monetary volatility is transmitted to the volatility of financial asset prices, inflation and real output in an open economy. A Markowitz efficient portfolio is constructed to eliminate diversifiable financial risk, and estimation by GLS on monthly Australian data from...

This paper examines the extent to which the conditional volatility of stock market returns in a small, internationally integrated stock market are related to the conditional volatility of financial and business cycle variables. It employs a low frequency monthly dataset for Australia including...

We examine the causes of conditional volatility in a small, internationally integrated stock market using the Irish stock market as an example. We relate Irish stock market conditional volatility to the conditional volatility of the British stock market and business cycle variables from July...

Using daily price and volume data on 112 of the largest takeover targets in Australia during the period 1985 to 1993, we find that conditional price volatility declines after the takeover announcement. This decline is greatest for targets of cash bids and smallest for targets of share-exchange...

This paper begins with a commentary on the unfolding of the Asian Crisis, and includes summary information on the effect of the crisis on the rate of economic growth and unemployment in the region. A review of current thinking on the causes of the crisis follows. This review evaluates whether...

The extent to which internationalising MNEs create value, and the extent to which investors can reap the benefits of firm-level internationalisation remain controversial issues. Using a multi-country dataset with over 3 million observations, we classify 1,143 firms listed on the exchanges of the...

Ten states, primarily from Central and Eastern Europe, acceded to the EU in May 2004. Another 2, and possibly 3 CEE states are likely to join in 2007. We assesses the competitiveness implications of this phase of EU expansion for Ireland. Four specific topics are considered: the opportunities...

We examine the relation between trading volume and skewness in 11 international stock markets using daily and monthly data from January 1980 to August 2004. We construct single equation and VAR models of the relation between the first three moments of market returns and trading volumes. Our...