G7 Stock Markets: Who is The First to Defeat The DCCA Correlation?

Following the methodology of Ferreira and Dionísio (2016), the objective of this paper is to analyze the behavior stock markets in the G7 countries and find which of those countries is the first to reach levels of long-range correlations that are not significant. We carry out this analysis using detrended cross-correlation analysis and its correlation coefficient, to check for the existence of long-range dependence in time series. The existence of long-range dependence could be understood as a possibility of EMH violation. This analysis remains interesting because studies are not conclusive about the existence or not of long memory in stock return rates.

Enea Silvio Piccolomini: in search of Europe

The Italian humanist Enea Silvio Piccolomini wrote abundantly about Europe and is often viewed as a pioneer of European thought. Works previous to the treatise De Europa leave no doubt that the author pondered the subject long since. The treatise De Europa, however, has the advantage of dealing with Europe from multiple dimensions. Though the work can provide matter to make the case for an identity of Europe, Piccolomini portrays a block full of tensions and conflicts, where national languages and national identities begin to emerge. It is the historical circumstance of a Turkish threat to Europe that makes the appeal to a European identity more compelling. Still the case for European identity in Piccolomini is hardly more than an emotional response to the historical moment.