Following the proposal of the World Bank in the end of the 1990s, a number of Central European countries have extended their pay-as-you-go pension systems by a capital-market-based element in the form of…
The paper provides new evidence on the factors that explain stock returns on the emerging markets. It focuses on the largest and most developed of the Central and Eastern European markets, the Polish stock…
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…
