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 : Inst. für Weltwirtschaft
Subject:	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
Description of contents:	Description [uni-kiel.de]

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Extent:	37 S graph. Darst a
Series:	Kieler Arbeitspapiere. - Kiel : Inst. für Weltwirtschaft, ISSN 0342-0787, ZDB-ID 187236-9. - Vol. 1121
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Classification:	F36 - Financial Aspects of Economic Integration ; F33 - International Monetary Arrangements and Institutions ; F41 - Open Economy Macroeconomics
Source:	ECONIS - Online Catalogue of the ZBW

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