Using daily returns from 1980‐2006, we find a significant contemporaneous association between all European Union (EU) equity markets and Germany. There is, however, no significant indication that the German stock market leads or lags the movements in the other EU stock markets. A higher share...

Previous research established that Federal Reserve monetary policy influences stock, bond, and other financial asset returns. This research extends past research and shows that similar patterns exist for real estate returns. We also provide evidence consistent with the contention that returns to...