Resource title

Financial Market Integration in a Monetary Union

Resource image

image for OpenScout resource :: Financial Market Integration in a Monetary Union

Resource description

Financial markets in Euroland differ from those of a national monetary union in two regards. First, capital markets in general and banking markets in particular show a greater degree of segmentation than national financial markets as a result of information costs and regulatory barriers to full integration. Second, financial market structures differ among the members of Euroland, which potentially affects the transmission of (monetary) shocks. This paper provides a simple model of a currency union which takes these peculiarities into account, focusing on the interaction of financial structures, the degree of capital mobility, the transmission of shocks, and the portfolio choices of banks.

Resource author

Claudia M. Buch

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17897

Resource license

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