This paper analyses returns and volatility linkages between the South African (SA) equity market and the world major equity markets using daily data for the period 199-2007. Also analysed is the nature of volatility, the long term trend of volatility and the risk-premium hypothesis. The...

Türkiye İstatistik Kurumu tarafından yayımlanan iktisadi faaliyet kollarına göre istihdam serileri Ekim 1988 – Nisan 1999 döneminde Nisan ve Ekim aylarında olmak üzere yılda iki gözlemden oluşmaktadır. Bu seriler 2000–2004 döneminde ise üçer aylık gözlemler halindedir....

This paper presents a new approach for analysing the recent development of EMU sovereign bond spreads. Based on a GARCH-in-mean model originally used in the exchange rate target zone literature, spreads are decomposed into a risk premium, an expected loss component and a liquidity premium....

Real residential investment in Germany is found to be cointegrated with population, real national income per capita and real house prices. This evidence is consistent with a model where the trend in housing demand is determined by demographic factors and economic well-being to which supply...

This paper reviews theoretical and empirical evidence of asset price movements impact on the real economic activity. A key channel is the wealth effect on consumption. Fluctuations in stock prices and housing prices influence the households wealth and could have important impacts on households...

Economic growth around the world has not been equal for a long time. Some economics grow faster while others grow slower. But economists have predicted that the slower growing economics will eventually converge with the faster growing economy as some point in the future. This is known as the...

Starting from today’s definition of innovation indicators, this paper analyses the dynamic relationships between innovation activities (approximated by two innovation input indicators and one innovation output indicator) and per capita income in Germany for the two periods from 1850 until 1913...

In this paper we analyze the dynamic conditional correlations between CEE stock markets (also known as countries from Vysehrad Group - V4) and developed European stock markets, with German DAX utilized as a benchmark. Our methodology is based on the DCC MV-GARCH approach. It is shown that the...

Every year has large demand and supply shifts associated with the seasons, regardless of the phase of the business cycle. Based on measures dating back to the 1940s, the seasonal shifts reject the hypotheses that demand shifts affect employment outcomes significantly more in recession years than...

The real interest partity (RIP) condition combines two cornerstones in international finance, uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The extent of deviation from RIP is therefore an indicator of the lack of product and financial market integration. This paper...