In this paper, we contribute to the literature on international stock market comovement. The novelty of our approach lies in usage of wavelet tools to high-frequency financial market data, which allows us to understand the relationship between stock market returns in a different way. Major part...

This paper studies how the change of wealth of households represented by housing prices and stock market prices influences households' consumption. We provide empirical analysis based on the Czech aggregate data from 1998-2009. We analyse the effect of change in households' wealth on the...

In the paper we test for the different reactions of stock markets to the current financial crisis. We focus on Central European stock markets, namely the Czech, Polish and Hungarian ones, and compare them to the German and U.S. benchmark stock markets. Using wavelet analysis, we decompose a time...