type="main" xml:lang="en" <p>This paper analyses the co-existence of two markets for the same shares, a quote-driven market and an order-driven market, as observed for example for the trading of continental shares on the London SEAQ International. The focus is on the trade-off between the uncertain...</p>

type="main" xml:lang="en" <p>In this paper, we examine econometrically the “fiscal dominance” model of the Monetary History of Italy proposed by Spinelli and Fratianni (1996). We test the proposition that monetary policy is endogenous to fiscal policy, and that such an endogeneity creates a...</p>

type="main" xml:lang="en" <title type="main">Abstract</title> <p>We perform a cross-country comparison of stock market risk. Stock market risk is defined as the standard deviation of cumulative stock market returns. We model stock market returns in a VAR(1) system jointly with bond returns and a set of predictive variables....</p>