Browsing ECO Working Papers by Subject "G15"

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Title: Correlation Breakdown and Extreme Dependence in Emerging Equity Markets Author(s): BEKIROS, Stelios D.; GEORGOUTSOS, Dimitris A. Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This study investigates the dependence structure of extreme realization of returns between the mature markets of Japan and the U.S. and the emerging markets of Cyprus, Greece and that of six Asia- Pacific counties, with ...
Title: The Saving Glut Explanation of Global Imbalances. The Role of Underinvestment Author(s): CORNELI, Flavia Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: According to the “Saving Glut hypothesis”, global imbalances are caused by inefficiently high level of precautionary savings in .nancially underdeveloped regions, where agents have limited opportunity to diversify idiosyncratic ...
Title: Currency Unions, Optimal Currency Areas and the Integration of Financial Markets: Central Europe from the Fourteenth to the Sixteenth Centuries Author(s): BOERNER, Lars; VOLCKART, Oliver Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper employs a new method and dataset to estimate the effect of currency unions on the integration of financial markets in late medieval Central Europe. The analysis reveals that membership of a union strongly and ...

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