Resource title

Financial Market Integration and Business Cycle Volatility in a Monetary Union

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Resource description

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.

Resource author

Christian Pierdzioch

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17784

Resource license

Adapt according to the presented license agreement and reference the original author.