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Cross-border price differentials and goods market integration in East Asia
Moon, Woosik - 2013
As cross-border movements of goods, capital, and labor are intensifying, it is likely that goods markets in East Asia will become increasingly integrated. This study investigates the current state of goods market integration in East Asia by measuring the extent of cross-border price...
Persistent link: https://www.econbiz.de/10010397294
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Business cycle synchronisation in East Asia
Moneta, Fabio; Rüffer, Rasmus - 2006
common consumption or investment dynamics. Cross-country spill-over effects explain only a small part of the comovement in …
Persistent link: https://www.econbiz.de/10011604717
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Business cycle synchronization and insurance mechanisms in the EU
Afonso, António; Furceri, Davide - 2007
In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...
Persistent link: https://www.econbiz.de/10011604890
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Financial Market Integration and Business Cycle Volatility in a Monetary Union
Pierdzioch, Christian - 2002
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...
Persistent link: https://www.econbiz.de/10010260515
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Heterogeneous life-cycle profiles, income risk and consumption inequality
Primiceri, Giorgio E.; van Rens, Thijs - 2007
transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …
Persistent link: https://www.econbiz.de/10010276396
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Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation
Sánchez, Marcelo - 2005
This paper assesses the prospects for monetary integration between Emerging East Asian (EEA) economies. Our empirical analysis is based on a simple analytical framework for currency unions of small open economies, with a focus on the conduct of monetary policy in the presence of different types...
Persistent link: https://www.econbiz.de/10011604613
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Business cycle convergence in EMU: A second look at the second moment
Crespo-Cuaresma, Jesús; Fernández-Amador, Octavio - 2010
We analyse the dynamics of the standard deviation of demand shocks and of the demand component of GDP across countries in the European Monetary Union (EMU). This analysis allows us to evaluate the patterns of cyclical comovement in EMU and put them in contrast to the cyclical performance of the...
Persistent link: https://www.econbiz.de/10010294756
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The Synchronization of GDP Growth in the G7 during U.S. Recessions. Is this Time Different?
Antonakakis, Nikolaos; Scharler, Johann - 2010
Using the dynamic conditional correlation (DCC) model due to Engle (2002), we estimate time varying correlations of quarterly real GDP growth among the G7 countries. In general, we find that rathe heterogeneous patterns of international synchronization exist during U.S. recessions. During the...
Persistent link: https://www.econbiz.de/10010294906
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A note on Mexico and US manufacturing industries' long-term relationship
Chiquiar, Daniel; Ramos-Francia, Manuel - 2008
shock was too recent and, therefore, the analysis was based only on end-of-sample structural break tests. In this note we …
Persistent link: https://www.econbiz.de/10010322600
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Business cycle dynamics in the CEE countries: a political economy approach
Adalet, Müge; Öz, Sumru - 2010
This paper uses a simple VAR analysis to examine 5 CEE countries (the Czech Republic, Hungary, Poland, Romania and Slovakia) in order to understand whether their business cycles are synchronized with each other and/or with the major economies that they are supposed to be linked with, namely the...
Persistent link: https://www.econbiz.de/10010273651