Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2003
This paper examines the impact of international financial integration on macroeconomic volatility. Economic theory does … not provide a clear guide to the effects of financial integration on volatility, implying that this is essentially an … empirical question. We provide a comprehensive examination of changes in macroeconomic volatility in a large group of industrial …