In this work, we use a time varying copula model to investigate the impact of the global financial crisis on dependence between US and each of six major stock markets and on risk management strategies. The model is implemented with an AR-GARCH-t for the marginal distribution and the extreme...

This article presents the US experience from periodical business failures and collapses of the financial markets. It could be a lesson for the Central and Eastern European countries on their economies during the post-transition era. International management is one of the strongest aspects of...