This paper empirically analyzes whether and to what extent the adoption of inflation targeting (IT) in Korea, Indonesia, Thailand and the Philippines has affected their business cycle synchronization with the rest of the world. By employing the dynamic conditional correlation (DCC) model...

European stock markets have been slow to recover as the crisis in Europe has developed into a fiscal as well as a financial crisis. The market capitalization and trading value of the main European markets, and the value of IPOs and capital increases by European companies as a percentage of the...