Business Cycle Volatility And Openness
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Business Cycle Volatility And Openness
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Author : Andrew Rose
language : en
Publisher:
Release Date : 1994
Business Cycle Volatility And Openness written by Andrew Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts that capital market integration should lower consumption volatility while raising investment volatility, if most shocks are country-specific and transitory. The removal of barriers to trade in goods should enhance specialization and hence output volatility. We test these ideas using a unique panel data set which includes indicators of barriers to trade in both goods and capital flows. However, our empirical results indicate that neither the degree of capital mobility, nor the degree of goods mobility is strongly correlated with the volatility of consumption, investment or output. This may reflect the fact that many business cycle shocks are both persistent and common to many countries.
Business Cycle Volatility And Openness
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Author : Assaf Razin
language : en
Publisher:
Release Date : 2022
Business Cycle Volatility And Openness written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts that capital market integration should lower consumption volatility while raising investment volatility, if most shocks are country-specific and transitory. The removal of barriers to trade in goods should enhance specialization and hence output volatility. We test these ideas using a unique panel data set which includes indicators of barriers to trade in both goods and capital flows. However, our empirical results indicate that neither the degree of capital mobility, nor the degree of goods mobility is strongly correlated with the volatility of consumption, investment or output. This may reflect the fact that many business cycle shocks are both persistent and common to many countries.
Financial Openness And Business Cycle Volatility
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Author : Claudia M. Buch
language : en
Publisher:
Release Date : 2002
Financial Openness And Business Cycle Volatility written by Claudia M. Buch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Emerging Economy Business Cycles
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Author : Rudrani Bhattacharya
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-22
Emerging Economy Business Cycles written by Rudrani Bhattacharya and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-22 with Business & Economics categories.
This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle volatility reduces. For an economy with limited financial openness, and a relatively open trade account, a model with exogenous terms of trade shocks is able to replicate the features of the business cycle.
Business Cycle Volatility And Globalization
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Author : Claudia M. Buch
language : en
Publisher:
Release Date : 2002
Business Cycle Volatility And Globalization written by Claudia M. Buch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Emerging Economy Business Cycles
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Author : Rudrani Bhattacharya
language : en
Publisher:
Release Date : 2017
Emerging Economy Business Cycles written by Rudrani Bhattacharya and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle volatility reduces. For an economy with limited financial openness, and a relatively open trade account, a model with exogenous terms of trade shocks is able to replicate the features of the business cycle.
Volatility And Growth
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Author : Viktoria Hnatkovska
language : en
Publisher: World Bank Publications
Release Date : 2004
Volatility And Growth written by Viktoria Hnatkovska and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business cycles categories.
Business Cycle Volatility And Openess
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Author : Assaf Razin
language : en
Publisher:
Release Date : 1992
Business Cycle Volatility And Openess written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business cycles categories.
The Integration Of Imperfect Financial Markets
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Author : Claudia M. Buch
language : en
Publisher:
Release Date : 2003
The Integration Of Imperfect Financial Markets written by Claudia M. Buch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Volatility And Growth
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Author : Viktoria Hnatkovska
language : en
Publisher:
Release Date : 2013
Volatility And Growth written by Viktoria Hnatkovska and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The authors study the empirical, cross-country relationship between macroeconomic volatility and long-run economic growth. They address four central questions: 1) Does the volatility-growth link depend on country and policy characteristics, such as the level of development or trade openness? 2) Does this link reflect a statistically and economically significant causal effect from volatility to growth? 3) Has this relationship been stable over time and has it become stronger in recent decades? 4) Does the volatility-growth connection actually reveal the impact of crises rather than the overall effect of cyclical fluctuations? The authors find that macroeconomic volatility, and long-run economic growth are indeed negatively related. This negative link is exacerbated in countries that are poor, institutionally underdeveloped, undergoing intermediate stages of financial development, or unable to conduct counter-cyclical fiscal policies. They find evidence that this negative relationship actually reflects the harmful effect from volatility to growth. Furthermore, the authors find that the negative effect of volatility on growth has become considerably larger in the past two decades, and that it is mostly due to large recessions rather than normal cyclical fluctuations.