Financial openness and business cycle volatility

by Claudia M. Buch, Jörg Döpke, and Christian Pierdzioch

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.

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Year of publication:	2002
Authors:	Buch, Claudia M. ; Döpke, Jörg ; Pierdzioch, Christian
Publisher:	Kiel (Germany) : Kiel Institute of World Economics
Subject:	Open Economy Macroeconomics \| Monetary union \| Business cycles \| Financial markets \| Konjunktur \| Business cycle \| Volatilität \| Volatility \| Globalisierung \| Globalization \| Kapitalmobilität \| Capital mobility \| Internationaler Finanzmarkt \| International financial market \| Offene Volkswirtschaft \| Open economy \| Makroökonomik \| Macroeconomics \| Allgemeines Gleichgewicht \| General equilibrium \| Schätzung \| Estimation \| Theorie \| Theory \| OECD-Staaten \| OECD countries \| Neue Makroökonomik offener Volkswirtschaften \| New open economy macroeconomics

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Extent:	1 Online-Ressource (circa 40 Seiten) Illustrationen
Series:	Kiel working paper. - Kiel : [Verlag nicht ermittelbar], ISSN 1862-1155, ZDB-ID 2107612-1. - Vol. no. 1121
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/17783 [Handle]
Classification:	F36 - Financial Aspects of Economic Integration ; F33 - International Monetary Arrangements and Institutions ; F41 - Open Economy Macroeconomics
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011475038