Publication
Jul 2002
This paper analyzes the link between international financial market integration and business cycle volatility in a monetary union. Employing a dynamic general equilibrium two-country optimizing sticky-price model, it finds that the more integrated the capital markets of a monetary union member country are, the higher business cycle volatility is.
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English (PDF, 26 pages, 350 KB) |
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Author | Christian Pierdzioch |
Series | Kiel Institute Working Papers |
Issue | 1115 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2002 Kiel Institute for the World Economy |