Giannellis, Nikolaos; Papadopoulos, Athanasios; Kanas, … - Department of Economics, University of Crete - 2008
spillovers between the two sectors within a country, implying stronger interdependencies in UK rather than in US. Volatility … real activity for the UK and the US over the period 1970-2002. There is evidence of significant reciprocal volatility … spillovers, transmitted via the balance sheet channel, are found to be asymmetric only in the case of UK. Namely, a negative …