Financial Openness and Business Cycle Volatility

This paper discusses whether the integration of international financial markets affects business cycle fluctuations. In the framework of a new open economy macro-model, we show that the link between financial openness and business cycle volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that the link between business cycle volatility and financial openness has not been stable over time.

MoreLess

Year of publication:	2002-07
Authors:	Buch, Claudia M. ; Döpke, Jörg ; Pierdzioch, Christian
Institutions:	Institut für Weltwirtschaft (IfW)
Subject:	Open Economy Macroeconomics \| Monetary union \| Business cycles \| Financial markets

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Kiel Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	37 pages
Classification:	F33 - International Monetary Arrangements and Institutions ; F36 - Financial Aspects of Economic Integration ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005818873