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Title:Financial Openness and Business Cycle Volatility PDF Logo
Authors:Pierdzioch, Christian
Döpke, Jörg
Buch, Claudia M.
Issue Date:2002
Series/Report no.:Kieler Arbeitspapiere 1121
Abstract: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.
Subjects:Open Economy Macroeconomics
Monetary union
Business cycles
Financial markets
JEL:F36
F33
F41
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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