WORKING PAPER

An important thing to note is that a restriction is merely a device which makes it possible to estimate a parameter vector; a representative of its equivalence class under

Tables 4, 5, 6, based on quarterly data for all banks and financial institutions as well as those belonging to the eight largest Swedish banks, suggest that in Sweden,

The Financials block contain five currency rates and total return and dividend yield for eight different indexes on Oslo Stock exchange, in total 21 variables.. There are

For each variable we test a two-factor model with the excess return on the value-weighted market portfolio (er vw m ) and the respective variables for ve dierent sets of