Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17784
Authors: 
Pierdzioch, Christian
Year of Publication: 
2002
Series/Report no.: 
Kiel Working Paper 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

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