Financial market integration and business cycle volatility in a monetary union

by Christian Pierdzioch

This paper uses a dynamic general equilibrium two-country optimizing sticky-price model to analyze the consequences of international financial market integration for the propagation of asymmetric productivity shocks in a monetary union. The model implies that business cycle volatility is higher the more integrated the capital markets of the member countries of the monetary union are.

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Year of publication:	2002
Authors:	Pierdzioch, Christian
Publisher:	Kiel : Inst. für Weltwirtschaft
Subject:	Konjunkturzusammenhang \| Business cycle synchronization \| Schock \| Shock \| Volatilität \| Volatility \| Währungsunion \| Monetary union \| Internationaler Finanzmarkt \| International financial market \| Marktintegration \| Market integration \| Offene Volkswirtschaft \| Open economy \| Makroökonomik \| Macroeconomics \| Allgemeines Gleichgewicht \| General equilibrium \| Kapitalmobilität \| Capital mobility \| Theorie \| Theory \| Neue Makroökonomik offener Volkswirtschaften \| New open economy macroeconomics
Description of contents:	Description [uni-kiel.de]

Extent:	24 S graph. Darst a
Series:	Kieler Arbeitspapiere. - Kiel : Inst. für Weltwirtschaft, ISSN 0342-0787, ZDB-ID 187236-9. - Vol. 1115
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Literaturverz. S. 18 - 19 Internetausg.: http://www.uni-kiel.de/ifw/pub/kap/2002/kap1115.pdf
Classification:	F36 - Financial Aspects of Economic Integration ; F41 - Open Economy Macroeconomics ; F33 - International Monetary Arrangements and Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10001682813