Resource title

Consumption Volatility and Financial Openness

Resource image

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Resource description

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.

Resource author

Claudia M. Buch, Serkan Yener

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17811

Resource license

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