This paper studies the components of the forward discount dynamics in Germany from 1972 to 1996. By using two different frequencies in the analysis, we find that an ARCH structure fits the monthly data well, while an EGARCH structure gives a better description of daily forward discount...

This paper studies the components of the forward discount dynamics in Germany from 1972 to 1996. By using two different frequencies in the analysis, we find that an ARCH structure fits the monthly data well, while an EGARCH structure gives a better description of daily forward discount...

In the twentieth century many developed countries moved from an “agricultural‐based industrial society” to an “information society.” The second part of the century saw a deterioration of social conditions in many industrialized countries. The combination of these two factors has posed...