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Business Cycle Volatility And Openness
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Book Synopsis Business Cycle Volatility and Openness by : Andrew Rose
Download or read book Business Cycle Volatility and Openness written by Andrew Rose and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Business Cycle Volatility and Openness by : Assaf Razin
Download or read book Business Cycle Volatility and Openness written by Assaf Razin and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Financial Openness and Business Cycle Volatility by : Claudia M. Buch
Download or read book Financial Openness and Business Cycle Volatility written by Claudia M. Buch and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Business Cycle Volatility and Globalization by : Claudia M. Buch
Download or read book Business Cycle Volatility and Globalization written by Claudia M. Buch and published by . This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Emerging Economy Business Cycles by : Rudrani Bhattacharya
Download or read book Emerging Economy Business Cycles written by Rudrani Bhattacharya and published by International Monetary Fund. This book was released on 2013-05-22 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Emerging Economy Business Cycles by : Rudrani Bhattacharya
Download or read book Emerging Economy Business Cycles written by Rudrani Bhattacharya and published by . This book was released on 2017 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Volatility and Growth by : Viktoria Hnatkovska
Download or read book Volatility and Growth written by Viktoria Hnatkovska and published by World Bank Publications. This book was released on 2004 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Volatility and Growth by : Philippe Aghion
Download or read book Volatility and Growth written by Philippe Aghion and published by Oxford University Press, USA. This book was released on 2005-07-28 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: An original work containing new theory and empirical analyses on the macropolicy of growth. Provides a new approach capable of generating relevant policy prescriptions. Written in an accessible style using simple models.
Book Synopsis Business Cycle Volatility and Openness by : Assaf Razin
Download or read book Business Cycle Volatility and Openness written by Assaf Razin and published by . This book was released on 1992 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Business Cycle Volatility and Openess by : Assaf Razin
Download or read book Business Cycle Volatility and Openess written by Assaf Razin and published by . This book was released on 1992 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Volatility and Growth by : Norman Loayza
Download or read book Volatility and Growth written by Norman Loayza and published by . This book was released on 2016 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hnatkovska and Loayza study the empirical, cross-country relationship between macroeconomic volatility and long-run economic growth. They address four central questions:- Does the volatility-growth link depend on country and policy characteristics, such as the level of development or trade openness?- Does this link reflect a statistically and economically significant causal effect from volatility to growth?- Has this relationship been stable over time and has it become stronger in recent decades?- 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 countercyclical 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.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand the effects of volatility.
Book Synopsis The Integration of Imperfect Financial Markets by : Claudia M. Buch
Download or read book The Integration of Imperfect Financial Markets written by Claudia M. Buch and published by . This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Business Cycles in a Small Open Economy by : Isabel Correia
Download or read book Business Cycles in a Small Open Economy written by Isabel Correia and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Open Economy Macroeconomics by : Martín Uribe
Download or read book Open Economy Macroeconomics written by Martín Uribe and published by Princeton University Press. This book was released on 2017-04-04 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Book Synopsis Business Cycle Volatility and Economic Growth by : T. C. Mills
Download or read book Business Cycle Volatility and Economic Growth written by T. C. Mills and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Long-run Growth and Business Cycle Volatility by : Claudio Michelacci
Download or read book Long-run Growth and Business Cycle Volatility written by Claudio Michelacci and published by . This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Does Globalization Affect the Synchronization of Business Cycles? by : Mr. M. Ayhan Kose
Download or read book How Does Globalization Affect the Synchronization of Business Cycles? written by Mr. M. Ayhan Kose and published by International Monetary Fund. This book was released on 2003-01-01 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is stronger for industrial countries. One striking result is that, on average, cross-country consumption correlations have not increased in the 1990s, precisely when financial integration would have been expected to result in better risk-sharing opportunities, especially for developing countries.
