The investigation concerns the problem of whether some macroeconomic variables and the EUR/ PLN exchange rate might affect the performance of the Warsaw Stock Exchange. The answer to this question can be obtained from a cointegration analysis. The advantage of testing for cointegration is the...

The article presents a method for balancing Gross Domestic Product (GDP) when the measurements of its components are distorted by the existence of the shadow economy. Our proposal to measure GDP is based on a multiple ultrastructural model (MUM), where the explanatory variables are subject to...

The last three decades brought mounting evidence regarding the cross-sectional predictability of country equity returns. The studies not only documented country-level counterparts of well-established stock-level anomalies, such as size, value, or momentum, but also demonstrated some unique...