The purpose of this paper is to assess the empirical influence of oil prices on the real effective exchange rate in Romania in a wavelet transform framework. More precisely, we investigate to what extent oil prices impact the real effective exchange rate in an Eastern European transition country, characterised by a low level of retail fuel prices and by an important growth rate of these prices as compared to the other EU countries. For this purpose

The present paper analyzes the relationship between the volume of transactions with equity index futures and the return volatility of their underlying assets. The study addresses the case of five stock markets, members of the Euronext.liffe, namely: Amsterdam,Brussels, Lisbon, London and Paris. The novelty of our paper is the use of the hidden cointegration technique to highlight the asymmetric relationship between derivatives and financial volatility.