The paper presents a framework for analyzing the degree of financial transmission between money, bond and equity markets and exchange rates within and between the United States and the euro area. We find that asset prices react strongest to other domestic asset price shocks, and that there are...

Empirical studies on information communication technologies (ICT) typically aggregate the informationʺ and communicationʺ components together. We show theoretically and empirically that these have very different effects on the empowerment of employees, and by extension on wage inequality. If...