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Has the Euro changed the Business Cycle?
Enders, Zeno; Jung, Philip; Müller, Gernot J. - 2009
In this paper we analyze European business cycles before and under EMU. Across the two periods we ?nd 1) a signi … able to replicate key features of the data prior to and under EMU.We ?nd that the euro has a strong bearing on the … transmission mechanism as cross-country spillovers increase substantially under EMU. As a result, foreign shocks become more and …
Persistent link: https://www.econbiz.de/10010270020
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Has the Euro changed the business cycle?
Enders, Zeno; Jung, Philip; Müller, Gernot J. - 2009
In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant … able to replicate key features of the data prior to and under EMU. We find that the euro has a strong bearing on the … transmission mechanism as cross-country spillovers increase substantially under EMU. As a result, foreign shocks become more and …
Persistent link: https://www.econbiz.de/10003850663
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International Spillovers of Output Growth and Output Growth Volatility : Evidence from the G7
Antonakakis, Nikolaos; Badinger, Harald - 2010
This paper examines the transmission of GDP growth and GDP growth volatility among the G7 countries over the period 1960 q1 - 2009 q3, using a multivariate generalized autoregressive conditional heteroskedasticity (MGARCH) model to identify the source and magnitude of spillovers. Results...
Persistent link: https://www.econbiz.de/10011374385
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Volatility and Comovement in a Globalized World Economy An Empirical Exploration
Kose, M. Ayhan - 2006
This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment fluctuations using two distinct datasets. The results suggest that there has been a significant decline in the volatility of business cycle fluctuations and a slight increase in...
Persistent link: https://www.econbiz.de/10012782433
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International Spillovers of Output Growth and Output Growth Volatility : Evidence from the G7 Countries
Antonakakis, Nikolaos - 2014
This paper examines the transmission of GDP growth and GDP growth volatility among the G7 countries over the period 1960Q1 – 2010Q4, using a multivariate GARCH model and volatility impulse response functions (VIRFs) to identify the source, magnitude and the duration of volatility spillovers....
Persistent link: https://www.econbiz.de/10013058576
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Trade in commodities and business cycle volatility
Kohn, David; Leibovici, Fernando; Tretvoll, Hakon - 2018
This paper studies the role of differences in the patterns of production and international trade on the business cycle volatility of emerging and developed economies. We study a multi-sector small open economy in which firms produce and trade commodities and manufactures. We estimate the model...
Persistent link: https://www.econbiz.de/10011911446
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Financial Integration and Macroeconomic Volatility
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...
Persistent link: https://www.econbiz.de/10014084811
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International spillovers of output growth and output growth volatility : evidence from the G7
Antonakakis, Nikolaos; Badinger, Harald - 2010
Persistent link: https://www.econbiz.de/10008903111
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Business cycle volatility and globalization : a survey
Buch, Claudia M. - 2002
The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...
Persistent link: https://www.econbiz.de/10001680906
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Business cycle volatility and globalization : a survey
Buch, Claudia M. - 2002
The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...
Persistent link: https://www.econbiz.de/10011474806