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http://hdl.handle.net/10419/17784
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| Title: | | Financial Market Integration and Business Cycle Volatility in a Monetary Union  |
| Authors: | | Pierdzioch, Christian |
| Issue Date: | | 2002 |
| Series/Report no.: | | Kieler Arbeitspapiere 1115 |
| Abstract: | | 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 the more integrated the capital markets of the member countries of the monetary union are. |
| Subjects: | | Open Economy Macroeconomics Monetary union Business cycles Financial markets |
| JEL: | | F36 F41 F33 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Kieler Arbeitspapiere, IfW
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