undergoes to move the spread to its equilibrium during widenings and narrowings. While the results show strong asymmetry in the …This study examines the asymmetry and adjustment to the long-run equilibrium for the TED spread formed as the … spread movements, the adjustment clearly shows a shift in spread risk in 2007. Both asymmetry and convergence are also …

The authors set up a political economy equilibrium framework for personal income distribution. Located in status theory …, show that the hypothesis of the existence of an equilibrium value for the Gini-coefficient can be weakly confirmed, after …

This study examines the asymmetric adjustments to the long-run equilibrium for credit default swap (CDS) sector indexes … return in each sector pair participates in the adjustment to equilibrium in the short- and long-run taken together. But in … the long-run alone, only one of the two spreads in each pair participates. Policy implications are also provided. …

The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was …

intertemporal equilibrium. Specifically, we consider a simple endowment economy with traded and non-traded goods populated by …

level ; convergence …

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries …) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional …