This study examines the contagion of herding behavior in the Tunisian financial system during the period 2000:01-2012:12 by using several GARCH models. The BEKK-GARCH model results prove the volatility spillovers between the residues of time deposit and other financial variables for savings...

This paper aims to analyze the spillovers between the financial and economic spheres in Tunisia. The results based on GARCH model show that the major economic growth shocks are persistent. Further, BEKK- GARCH model results well illustrate that financial and economic spheres are more or less...

The equity premium puzzle is one of the most important phenomena in finance. Related to behavioral finance, we use the concept of Myopic Loss Aversion (MLA) to explain the puzzle in developed and emerging markets. Empirically, we support the robustness of the positive equity premium across the...