This paper contributes to the maritime transport literature by examining the relative efficiency of firms in the three key sectors of the shipping industry, i.e. dry, wet and container shipping. Two relative efficiency models are developed to assess relative market and relative operating...

We provide evidence that higher inflation uncertainty leads to higher inflation in the new European Union (EU) member states and candidate countries only prior to EU accession. During EU accession and entry, inflation uncertainty has no effect on mean inflation.

We provide evidence that institutional improvements lead to lower levels of financial dollarization through previously unidentified channels. These indirect channels operate in addition to the direct impact identified in the literature and further illustrate the importance of institutions for...

We provide evidence that institutional improvements lead to lower levels of financial dollarization through previously unidentified channels. These indirect channels operate in addition to the direct impact identified in the literature and further illustrate the importance of institutions for...

This paper adopts dynamic factor models with macro-fi?nance predictors to revisit the intertemporal risk-return relation in ?five large European stock markets. We identify country specifi?c, Euro area, and global factors to determine the conditional moments of returns considering the role of...

In this paper we investigate the impact of various macroeconomic variables on house prices in Cyprus during the period 1988-2008. Furthermore, we examine how specific characteristics of the house affect its price. We find house prices to be particularly sensitive to changes in island’s...