We studied empirically American no-load equity mutual funds that invest in European stocks and keep their managers for more than three years, in order to investigate the persistence of the short-term performance, and the related investment style. The results showed an underperformance compared...

Recent research in developed countries provides evidence for the significant role of the yield spread on real economic activity. Using k-months industrial production growth rate model, this article attempts to ascertain whether similar results are obtained for countries from East Europe (Czech...

In this paper, we examine the impact of monetary policy shocks to the real economy by investigating the effects on different regions. Annual data for GDP, employment and investment from 12 regions in Greece are used for the period 1980 to 2009. By using an unrestricted VAR model and the impulse...

<Para ID="Par1">In this study, the interrelationship between major exchange rate returns (namely EUR/USD, GBP/USD, JPY/USD) and precious metal returns (gold and silver) is examined using a vector autoregressive model in a multivariate asymmetric GARCH framework on the intraday frequency. Our findings indicate a...</para>

This paper quantifies the importance of Optimal Currency Area (OCA) criteria for the monetary policy transmission mechanism at the regional level. The study employs a Bayesian PVAR model to measure the impact of monetary policy shocks on regional output of 58 regions of four South Euro-Zone...

This paper decomposes monetary policy changes into anticipated and unanticipated ones. Then US Treasury rate pass-through and the corresponding central bank reaction function are analyzed within an asymmetric error–correction framework. Our empirical analysis indicates that changes in policy...

This paper investigates the effect that the creation of the Monetary Policy Committee (MPC) has had on the interest rate risk which banks and life insurance companies face in the UK. By means of GARCH-M methodology, the stock returns are modelled on the CAPM and the Fama-French asset-pricing...

Terrorist actions can have a multitude of economic consequences that may adversely affect a number of economic indices, sectors and activities including growth and investment. From the markets' perspective, terrorist attacks are unforeseen events that, depending among other things on their...

This paper, by following vector error correction modeling, empirically investigates some of the popular monetary models of the NOK/USD rate. The empirical results suggest that there is some scope for the monetary approach to explain the development of the NOK/USD during the period from 1997 to...