This paper examines the main structural and performance features of European banking. It shows that while banking markets have become increasingly concentrated and bank numbers have fallen, competition appears to have intensified. Given the large number of banks and branches in many countries there still remain indicators of excess capacity in the system and that the consolidation trend, especi...

We investigate how the elimination of intra-European exchange risk may affect international financial markets using a conditional version of the International CAPM. We estimate the EMU and non-EMU components of aggregate currency risk and document significant exposures to both. The premium for EMU risk is positive and associated with exposure to the French, Italian and Spanish currencies. The p...

The data provided herein include flow-mediated vasodilation responses, represented by changes in arterial diameter, and blood pressure in young adults after a single oral dose of edible emu oil or placebo (cross-over design). Ten healthy men and 10 healthy women participated. Increased blood flow in the antebrachial region was induced by inflating a pressure cuff and subsequently releasing the ...

Magnetic nanoparticles of cobalt ferrite (CoFe204) have been synthesized using water-in-oil microemulsions consisting of water, cetyl trimethyl ammonium bromide (surfactant), n-butanol (cosurfactant), and n-octane (oil). Precursor hydroxides were precipitated in the aqueous cores of water-in-oil microemulsions and these were then separated and calcined to give the magnetic oxide. X-ray diffract...

This paper studies the evolution of European fiscal policies and the attempts at budgetary consolidation through three periods: the pre-Maastricht phase (to 1991); the run up to monetary union (1992-97), and finally the stability pact phase (1998 onwards). Using three separate indicators – the probability of undertaking a consolidation, the degree to which it is sustained, and the probability o...

Fiscal federalism theory seeks to establish the optimal organization of a government, confined by certain geographic boundaries. The implications of that theory for the monetary unification process are shortly inquired. The literature measuring the redistribution and stabilization effects of the tax and transfer systems in different monetary unions is surveyed. The prospects of evolution to int...

This paper uses a dynamic panel-data gravity model to explain the correlations between 40 markets from 1996 to 2010 using four types of market linkages: information capacity, financial integration, economic integration, and similarity in industrial structure. The mechanism of interdependence of developed markets and that of developing markets are heterogeneous: (1) information capacity and indu...

Recent econometric estimates suggest that currency unions have far greater effects on trade patterns than previously believed. Since currency unions are good for trade, and trade is good for growth, that is one major argument in favor of EMU. If there were evidence that the boost to trade within EMU was likely to come in part at the expense of trade with outsiders, that would imply something st...

Male and female emus were fed a diet rich in saturated fat (beef tallow) or a diet rich in unsaturated fat (soybean oil) until they weighed about 35 kg. Samples of subcutaneous and retroperitoneal adipose tissues and samples of six major meat cuts were taken for determination of composition. Emus fed the two different diets grew at similar rates, but the male emus had a higher percentage of car...

How does the advent of EMU affect the nature of financial market-government relations? I begin by reviewing the argument that developed-nation governments retain room to move in the face of financial globalization. I then consider the recent implications of EMU for this argument. Membership in EMU restricts governments fiscal and monetary policymaking autonomy, but it also may change their trea...