to the rest of the world tends to fluctuate over time but remains large overall. Second, although the size of the spill … persistent. Actually, the increasing economic integration at the world level is likely to have fostered second-round and third …

Forecasting the world economy is a difficult task given the complex interrelationships within and across countries …. This paper proposes a number of approaches to forecast short-term changes in selected world economic variables and aims …

Banks play a role in the corporate governance of firms as well as acting as debt financiers around the world. Universal …

to separate common and idiosyncratic developments of commodity prices. Our estimation results show that there exists one …

. The third issue discusses the uncertainty associated to the estimation of a reduced form relationship for the real … exchange rate, concluding that inference can be improved by panel estimation. The fourth and final issue addresses the presence … of strong and weak cross section dependence in panel estimation, suggesting which panel estimators one could use in this …