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  • 1
    Electronic Resource
    Electronic Resource
    Is the Bundesbank different from other central banks: A study based onP * (1994)
    Springer
    Empirical economics 19 (1994), S. 691-707 
    Details
    ISSN: 1435-8921
    Keywords: C32 ; E31 ; E51 ; E52
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract An important question for the future of European Monetary Union is whether the central banks of the European member states are fundamentally similar or are there real differences between them. Much casual evidence seems to suggest that the Bundesbank is fundamentally different in its method of operation from the other central banks. This paper attempts to find econometric evidence which may clarify this situation. It proceeds by drawing on theP * literature, which models the determination of inflation, and recent developments in the cointegration literature which allows a more complete treatment of causality than has hitherto been possible. It is argued that there does appear to be evidence that the Bundesbank operates in a qualitatively different way from the other Banks.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01205824
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    Do Market Participants Learn? The Case of the Budapest Stock Exchange (2000)
    Springer
    Economic change & restructuring 33 (2000), S. 3-18 
    Details
    ISSN: 1574-0277
    Keywords: G14 ; G15 ; C22
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In the paper we consider one of the faster growing Central European emerging markets: the Budapest Stock Exchange (BSE), in order to see whether the market becomes more weak-form efficient over time. The Hungarian exchange is selected because it is the oldest stock exchange operating in the region and, in 1995, it was the first Central European exchange admitted by the London Stock Exchange as a properly regulated stock exchange. As an econometric tool for comparative analysis, we use a Test for Evolving Efficiency (TEE). In a comparison of nine stocks and the market index (BUX) we found that the BSE becomes more mature but the process is surprisingly slow.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1003913725499
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    Paper (German National Licenses)
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