The empirical term structure literature shows that long-term interest rates are not merely a combination of expected short-term interest rates and a constant risk premium, as the so-called Expectation Hypothesis…
Large differences in the unemployment rates of industrialized countries and the underlying causes of unemployment have been subject of recurring discussion for a long time. Since the early 90's, labor and…
This paper analyzes long-run co-movements between 14 international real estate stock markets and between three economic and geographic regions based on bivariate and multivariate tests for cointegration. While…
The empirical literature documents a substantial and rising amount of labor income risk, in particular, employment risk. In most countries, the government provides insurance against this type of risk through the…
This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate governance mechanisms in the EU banking sector against the background of the existing corporate governance regulations…
