In this research, a European index and a world index were used to test the integration of the national stock markets of fourteen EU countries into the world stock market. A market timing procedure was used to detect differences of performance between the national indexes. The main conclusions...

This paper evaluates the impact of volatility shifts on different time varying period-by-period indexes which are used in the literature to study cross-country synchronization. Using GDP data for 22 OECD countries from 1970 to 2013 we show that when we take into account the volatility shifts the...

From the mid-1980s to the late-1990s a considerable number of empirical studies investigated the impact of the Welfare State (WS) on economic growth with no definite conclusions on the sign, transmission mechanisms and direction of causality of the relationship. More recently, globalization,...

Desenvolvemos um estudo cross-country aplicado a um conjunto de países da OCDE no período de 1980-2013 que visa analisar a relação macroeconómica de longo-prazo entre as despesas sociais públicas agregadas e o produto. É um estudo de estatística descritiva e econométrica que pretende...

Recent attempts to incorporate spatial heterogeneity in minimum-wage employment models have been attacked for using overly simplistic trend controls, and for neglecting the potential impact on employment growth. We investigate whether such considerations call into question our earlier findings...

Keynes has emphasized a particular situation in which the liquidity preference becomes absolute, leading to monetary policy ineffectiveness: the near zero nominal rate of interest does not allow negative values of the real interest rate. This situation is termed liquidity trap (LT) and although...

The aim of this paper is to analyze the impact of the Chinese foreign exchange policy on foreign trade with the European Union. After describing the importance of the exchange rate in an open economy and some of the methodologies employed to calculate its equilibrium value, we examine whether...

In this paper, we calculate the realized volatility measures using intraday data not equally spaced in time. The aim is to compare these measures with the ones from the stochastic volatility model. With this model, the data used are obtained in equal time intervals. Known facts are that the...

In this paper we construct a panel data set from 2000 to 2011 for the EU 28, studying the impact of education on the levels of software piracy in a country. When an aggregated analysis is made, e.g. considering all ISCED (International Standard Classification of Education) levels, expenditure on...

This work uses a simultaneous equation system approach to analyze the relationship between the Management and Business Quality of companies and their market Price Quality. Using panel data we found that both the Management and the Business Quality of companies positively influence the Market...