Dennis Barber, Yassaman Saadatmand and Thomas Kavoori
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IBUSUKI, Makoto, Kanshi no Jidai to
G.L.A. Harris, Ayanna Shivers and Patricia Deuster
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The paper investigates mean and volatility spillover effects from the U.S and EU stock markets as well as oil price market into national stock markets of eight European countries. The study finds strong indication of volatility spillover effects from the US-global, EU-regional, and the world factor oil towards individual stock markets. While both mean and volatility spillover transmissions from the US are found to be significant, EU mean spillover effects are negligible. To evaluate the magnitude of volatility spillovers, the variance ratios are also computed and the results draw to attention that the individual emerging countries’ stock returns are mostly influenced by the U.S volatility spillovers rather than EU or oil markets. Additionally, examination of only global and regional stock markets spillover transmissions into European stock markets also confirms the dominating presence of the U.S spillover transmissions. Furthermore, I also implement asymmetric tests on stock returns of eight markets. The stock market returns of Hungary, Poland, Russia and the Ukraine are found to respond asymmetrically to negative and positive shocks in the US stock returns. The weak evidence of asymmetric effects with respect to oil market shocks is found only in the case of Russia and the quantified variance ratios indicate that presence of oil market shocks are relatively higher for Russia. Moreover, a model with dummy variable confirms the effect of European Union enlargement on stock returns only for Romania. Finally, a conditional model suggests that the spillover effects are partially explained by instrumental macroeconomic variables, out of which exchange rate fluctuations play the key role in explaining the spillover parameters rather than total trade to GDP ratios in most investigated countries.
this article, the ethics of public service and the two Emoluments Clauses The Foreign Emoluments Clause, U.S. Const. art. I, § 9, cl. 8; the Domestic Emoluments Clause, U.S. Const. art II, §1, cl. 7. of theU.S. Constitution will be examined, along with the first reported federal judicial opinions about who can bring a lawsuit under either of the two Emoluments Clauses, and what “emoluments” meant to the Framers of the Constitution. U.S. law regarding conflicts of interest in the private sector––as well as findings in behavioral psychology––will be used to compare
The goal of this article is to critically evaluate, what role the impeachment plays in the U. S. Constitutional system and how it contributes to ensuring accountability of elected officials in the USA. To this end, the author will provide a short overview of the development of the institution of impeachment, discuss the current regulation of impeachment in the U. S. Constitution and the application of impeachment in practice, assessing its efficiency and role in the constitutional system. Finally, the conclusions will be reflected upon from the viewpoint of the Czech Constitutional system and its model of constitutional accountability.
Michael Nitz, Øyvind Ihlen, Jessyna Egge and Stacy Sobolik
Marketplace of Money: A Study of Commercialism and the Swedish Election News Coverage in 1998 and 2002, Nordicom Review, 28: 51-62.
Strömbäck, J., & Dimitrova, D. (2006) Political and Media Systems Matter: A Comparison of Election News Coverage in Sweden and theU.S. Harvard International Journal of Press/Politics, 11: 131-147.
Tisdall, J. (2005, May 18) Religion kept Norway and USA Close, Aftenposten . Retrieved October 3, 2005, from the World Wide Web: http://www.aftenposten.no/english/local/article1040695.ece .
Trent, J.S., Short-Thompson, C
The aim of this research is to asses the hypothesis that foreign direct investment (FDI) and international trade have had a positive impact on innovation in one of the most significant economies in the world, the United States (U.S.). To do so, the author used annual data from 1995 to 2010 to build a set of econometric models. In each model, 11 in total) the number of patent applications by U.S. residents is regressed on inward FDI stock, exports and imports of the economy as a collective, and in each of the 10 SITC groups separately.
Although the topic of FDI is widely covered in the literature, there are still disagreements when it comes to the impact of foreign direct investment on the host economy [McGrattan, 2011]. To partially address this gap, this research approaches the host economy not only as an aggregate, but also as a sum of its components (i.e., SITC groups), which to the knowledge of this author has not yet been done on the innovation-FDI-trade plane, especially for the U.S.
Unfortunately, the study suffers from the lack of available data. For example, the number of patents and other used variables is reported in the aggregate and not for each SITC groups (e.g., trade). As a result, our conclusions regarding exports and imports in a specific SITC category (and the total) impact innovation in the U.S. is reported in the aggregate.
General notions found in the literature are first shown and discussed. Second, the dynamics of innovation, trade and inward FDI stock in the U.S. are presented. Third, the main portion of the work, i.e. the econometric study, takes place, leading to several policy applications and conclusions.
This paper aims to discuss the implications of Ukraine crisis to the U.S. foreign policy towards the Baltic States. This paper consists of several parts. To begin with, political discourse of Obama‘s and Trump‘s administrations‘ is analysed. The second part presents an analysis of practical level of U.S. relations with Baltic States during and after Ukraine crisis, focusing on three dimensions: political/diplomatic, military and economic. In the third part of this paper, implications of the Ukrainian crisis on U.S. relations with Baltic States are assessed, comparing trends in official political discourse and practical foreign policy of Baltic States prior to and after the Ukraine crisis.
This paper offers an insight into Washington’s foreign policy establishment and its vision of European integration under the Nixon administration. It argues that President Nixon and his National Security Advisor, Henry Kissinger, managed to formulate many important aspects of foreign policy at the White House. From a realist perspective, the Nixon-Kissinger team saw the emergence of a new world order and in it the evolvement of European integration in a way different from previous U.S. administrations. The paper begins by discussing the Nixon administration’s realist approach to foreign policy before analyzing President Nixon’s determination to make decisions on foreign relations at the White House. Next, the paper examines the main features of the Nixon-Kissinger team’s vision of European integration. It concludes that, as realists, the Nixon administration supported integration in Western Europe, yet Washington was ambivalent if a united Europe with increasing self-confidence and self-assertiveness would be in the U.S. national interest. Henceforth, the European integration process had to be, in the Nixon-Kissinger view, taking place under U.S. control in the form of the consultative mechanism and the U.S. military umbrella.