have changed considerably due to increased openness and integration requiring considering business cycles at regional …

countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … introduction of the euro caused a structural change in exchange rate pass-through. Although some estimated point elasticities have … manufacturing industries. And since the euro was introduced, industries producing differentiated goods have been more likely to …

We measure the time-varying degree of world stock market integration of five developed countries (Germany, France, UK …, US, and Japan) over the period 1970:1–2011:10. Time-varying financial market integration of each country is measured … through the use of state space methods that allow for GARCH errors. Our empirical results suggest that stock market …