Asymmetric Wealth Effect in the U.S and European Markets: Threshold Cointegration Approach
Insights in Accounting Practices and Financial Management: 37FINACC 2021
Evidence of the asymmetric wealth effect leads to significant implications for the portfolio managers. They have been seeking for markets with imperfect correlation, but the scientific results still present mixed empirical evidence. This problem justifies our research. This study aims to identify adjustment relationships from…