This paper reexamines the forward rate unbiasedness hypothesis (FRUH) during the 1920s and it contributes to the literature as follows: first, it utilizes a database that includes currencies not studied before, as well as the 3 month forward rates; second, it applies three different approaches...

In this paper we estimate value of time savings specifically applied to the case of the Rion-Antirion suspension bridge which will connect the Western part of Greece through the Rion-Antirion sea strait with the region of Patras and consequently with Athens providing a faster and more efficient...

This paper provides an analysis of regime switching in volatility and out-of-sample forecasting of the Cyprus Stock Exchange by using daily data for the period 1996-2002. We first model volatility regime switching within a univariate Markov switching framework. Modelling stock returns within...

Purpose – The purpose of this paper is to focus on the specific “shareholder's” concept of transparency. Design/methodology/approach – It considers that indirect securities holding systems limit the degree of “post-trading” transparency. The main concern is that an adverse effect of...

This paper examines the dynamic relationship between the bilateral exchange rates of 10 Central and Eastern European emerging markets against the euro and their fundamentals, using data from the early 1990s to the middle of 2010, within the framework provided by the monetary model of exchange...

We examine the lending behavior of banks during anxious periods. The main characteristic of anxious periods is that the perceptions and expectations about economic conditions worsen for economic agents even though the economy is not in a recession. We identify distinct periods of anxiety for...