The housing market is a central macroprudential policy concern in France due to the significant proportion of residential property loans in bank balance sheets and the high weight of housing in household wealth. The surge in house prices at the start of the 2000s means we cannot rule out the...

The characteristics of trade and the efficiency and stability of markets depend on how such markets are organised. Market microstructure, which analyses this linkage, is an area of research that has grown extremely rapidly over the past years. However, progress has essentially been made with...

In this article, the degree of interdependence between European and US stock markets is measured by the conditional correlation between stock returns: the correlation coefficient is estimated using a model describing the variations over time in a number of variables (returns and volatility, for...

This study looks at the degree of correlation between stock prices and productivity at different levels, i.e. analysis of the correlations between certain components of the two variables and how correlations vary according to the different frequencies characterising these variables. It should be...

In this paper, we study the co-movements between stock market indices and real economic activity over the business cycle in France, Germany, Italy, the United Kingdom and the United States. Working on the premise that there is neither a single definition of the business cycle, nor a single...