The overlapping claims of susceptible shocks affecting multiple financial markets have been well documented in finance literature. These are channelled through several propagation mechanisms due to global integration. purpose this study was investigate contagion and the relative duration effect. A variance decomposition blueprint applied achieved objective for a sample five markets. sampling ti...

A cross-sectional analysis of all trading suspensions that occurred during the period 1974-1988 in the New York Stock Exchange reveals that though the desire to maintain price continuity remains an important motivation to suspend trade, inventory imbalance fears are pronounced for large firms. Adverse selection concerns afflict all news related suspensions irrespective of firm size. Further, we...

While economic downturns have adverse effects on young people's life chances, empirical studies examining whether and to what extent human values, social attitudes and well-being indicators respond to sudden economic shocks are scarce. To assess the claim that human values are less affected by economic shocks than social attitudes and well-being, two distinct yet related studies based on the Eu...

This paper uses a new methodology based on industry comovement to examine the role of financial market development in intersectoral allocation. Based on the assumption that there exist common global shocks to growth opportunities, we hypothesize that country pairs should have correlated patterns of sectoral growth if they are able to respond to these shocks. Consistent with financial markets pr...

We present an interactive dynamic simulator for poly-articulated bodies. We use constraintbased methods to compute contact forces with non-discretized friction, allowing fast simulation. The user can interact with the virtual environment while sensing force feedback through a haptic device. We integrated in our simulator the possibility to design and model an external passive system that allows...

A DSGE model is used to examine whether including the exchange rate in the central bank’s policy rule can improve economic performance. Smoothing the exchange rate helps both financiallyrobust economies and financially-vulnerable emerging economies in handling risk premium shocks and, given a small weight placed on the exchange rate, the effects on inflation and output volatility are minimal wi...

Commodity price shocks are an important type of external shock and are often cited as a problem for economic growth in sub-Saharan Africa. This paper quantifies the impact of agricultural commodity price shocks using a near vector autoregressive model. The novel aspect of this model is that we define an auxiliary variable that can potentially capture the definition of a price shock that allows ...

abstract in the recent decades, the iranian economy has been highly depended on oil revenues. considering the fact that a great part of non-oil exports are agricultures product, studying factors influencing growth of agricultural sector plays an important role in the iran's economy. supply domestic shocks and domestic demand pressure along with deviation of exchange rates from its equilibrium, ...

a r t i c l e i n f o JEL classification: F1 F4 Q43 N75 Keywords: Oil price shock Trade balance VAR Granger non-causality test Gregory-Hansen cointegration test This study aims to examine whether a large part of the variability of trade balances and their oil and non-oil components is associated with oil price fluctuations. The long-run causality running from oil price to overall, oil and non-o...