Bulls and Bears: Lessons from some European Countries
AbstractThis paper analyzes the recent behavior of stock markets in four European countries. More specifically, we describe the bull and bear phases of those markets, comparing some of their features across countries and with the US. We also comment on the degree of concordance of stock market phases across countries. We find that cycles in European countries have become substantially more concordant in recent years, a result that was to be expected given the increased integration of the European financial markets, but that the degree of concordance is not high.
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Bibliographic InfoPaper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2002 with number 28.
Date of creation: 29 Aug 2002
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