This paper examines the relation between the fluctuations in the quantity of money and the fluctuations in economic activity; that is, the cyclical components of each variable. The principal question posed is: how do the fluctuations in the quantity of money affect or get affected by the...

This study examines the macro drivers of the time-varying (dynamic) connectedness between eleven European tourism sectors. Financial integration between the travel and leisure markets, measured by their dynamic correlations or co-movement, is explained by common global fundamentals. The...

This study examines the impact of investors' buy and sell trades on Korean stock market volatility across two crisis events, the Asian crisis of 1997 and the 2008 global financial crash. We investigate the trading behaviour of domestic vs. foreign and institutional vs. individual investors. Our...

This paper estimates a bivariate HEAVY system including daily and intra-daily volatility equations and its macro-augmented asymmetric power extension. It focuses on economic factors that exacerbate stock market volatility and represent major threats to financial stability. In particular, it...

This paper calculates the environmental effects of the Attiki Odos (AOD) motorway investment expenditures in the Athens Metropolitan Area (AMA), Greece. The AOD is incorporated in the Trans-European Networks (TEN) and is a priority project aimed at developing the AMA. Input - output analysis is...