Much research into financial contagion and systematic risks has been motivated by the finding that cross-market correlations (resp. coexceedances) between asset returns increase significantly during crisis periods. Is this increase due to an exogenous shock common to all markets…
A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determi…
Dieses Buch liefert einen Beitrag zur Erklärung unfreiwilliger Arbeitslosigkeit in Effizienzlohnmodellen: Unternehmensseitige Informationsdefizite hinsichtlich der Produktivität der Arbeitnehmer führen nicht nur zur Rationierung von Arbeitsplätzen sondern auch zu Lohn- und Preis…