Yin-Wong Cheung; Frank Westermann: Equity Price Dynamics Before and After the Introduction of the Euro

Equity Price Dynamics Before and After the Introduction of the Euro: A note

Daily data from the German and U.S. equity markets before and after the introduction of the Euro are used to study the effect of exchange rate regime choices on equity markets. It is found that, since the introduction of the Euro, the volatility and the persistence of the German stock index have fallen significantly relative to those of the U.S. index. However, the switch in exchange rate arran...

1 Equity Price Dynamics Before and After the Introduction of the Euro : A Note

Daily data from the German and U.S. equity markets before and after the introduction of the Euro are used to study the effect of exchange rate regime choices on equity markets. It is found that, since the introduction of the Euro, the volatility and the persistence of the German stock index have fallen significantly relative to those of the U.S. index. However, the switch in exchange rate arran...

Message from the IOMP President, Dr. Kin Yin Cheung and the Chairman of the IOMP Education and Training Committee, Prof. John Damilakis on November 7, 2013: “International Day of Medical Physics”

Output Dynamics of the G7 Countries - Stochastic Trends and Cyclical Movements

Using a time series framework, the paper studies the interactions of the annual real per capita GDP data of the G7 countries. We find evidence of six common nonstationary processes behind the international output dynamics. In addition, there is evidence for the existence of a common business cycle among these countries. The trend and cycle components of each output series are obtained with a pr...

Does Austria Respond to the German or the US Business Cycle?

This study assesses the claim that the Austrian economy depends mainly on the German business cycle. Controlling for possible influences from the US economy, it is confirmed that the Austrian and German industrial production indexes have a common long-term stochastic trend and German industrial production Granger-causes the Austrian industrial production in the short run. However, German and US...