Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17811
Authors: 
Buch, Claudia M.
Yener, Serkan
Year of Publication: 
2005
Series/Report no.: 
Kiel Working Paper 1260
Abstract: 
Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find some evidence that greater financial openness has been associated with lower consumption volatility. However, volatility of consumption relative to output has not declined.
Subjects: 
Consumption volatility
financial integration
G7 countries
JEL: 
F41
F36
Document Type: 
Working Paper

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