The European Foundation for the Improvement of Living and Working Conditions organised a seminar for its company network on November 29-30, 2007, hosted by Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32 representatives from companies,...

The European Foundation for the Improvement of Living and Working Conditions organised a seminar for its company network on November 29u009630, 2007, hosted by Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32 representatives from companies,...

The European Foundation for the Improvement of Living and Working Conditions organised a seminar for its company network on November 29u009630, 2007, hosted by Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32 representatives from companies,...

The European Foundation for the Improvement of Living and Working Conditions organised a seminar for its company network on November 29u009630, 2007, hosted by Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32 representatives from companies,...

The European Foundation for the Improvement of Living and Working Conditions organised a seminar for its company network on November 29u009630, 2007, hosted by international bank Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32...

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

This paper analyses the information content of M1 for euro area real GDP since the beginning of the 1980s and reviews theoretical arguments on why real narrow money should help predict real GDP. We find that, unlike in the U.S., in the euro area, M1 has better and more robust forecasting...