The ongoing unification which takes place on the European political scene, along with recentadvances in consumer mobility and communication technology, raises the question whether theEuropean Union can be treated as a single market to fully exploit the potential synergy effectsfrom pan-European...

We develop a bivariate spectral Granger-causality test that can be applied at eachindividual frequency of the spectrum. The spectral approach to Granger causality hasthe distinct advantage that it allows to disentangle (potentially) di®erent Granger-causality relationships over di®erent time...