This paper aims to understand which innovation inputs are more strongly related outputs in the Eurozone, and derive policy implication for Spanish convergence with Eurozone top players terms of innovation. Drawing from Global Innovation Index input-output framework we developed an alternative longitudinal index. The resulting country scores were used construct a panel dataset composed 19 member...

We study political distortions that emerge in situations where agents’ political power is disproportionate with respect to their economic power. We use the Shapley value to evaluate both the economic and the political power. We show that usual weighted majority voting cannot prevent political distortions from emerging in a huge mass of situations. Distortions are less severe if partners can lea...

This paper focuses on sovereign credit risk meaning a hot topic related to the current Eurozone crisis. In the light of the recent financial crisis, market perception of the creditworthiness of individual sovereigns has changed significantly. Before the outbreak of the financial crisis, market participants did not differentiate between credit risk born by individual states despite different lev...

The Greek crisis began in November 2009, triggered by the turmoil of global Great Recession, structural weaknesses economy, and a lack monetary policy flexibility as member Eurozone. Since that time, Greece's economy has started to deteriorate due growing debt load an unmanageable deficit are having impact on national security. Thus, this study examined Greece’s security using secondary data fr...

This paper constitutes a first analysis on stock returns and stock return volatility of energy corporations from the Eurozone. According to our results, the gas market does not play a role for the pricing of Eurozone energy stocks. However, changes in the Euro to U.S. Dollar exchange rate as well as developments at the money and especially at the oil market strongly affect returns of the energy...

This paper follows up on recent studies of the Eurozone interest rate pass-through. Using a generalized empirical approach that allows for a variety of different specifications of the pass-through, including asymmetric adjustment, the role of interest rate expectations, proxied by EURIBOR futures, in determining retail banking product pricing is explored. It is shown that the pass-through is fa...