Globalization and international business cycle dynamics: a conditional GVAR approach

We examine the effects of increased international integration of both goods and financial markets on business cycle dynamics. To do so, we develop a new econometric framework for modelling cross-country spillovers in which the magnitude of these spillovers is an empirically determined function of th...

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Bibliographische Detailangaben
Hauptverfasser: Binder, Michael 1967- (VerfasserIn), Offermanns, Christian J. 1975- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:German
Veröffentlicht: Berlin Freie Univ. Berlin, FB Wirtschaftswiss. 2014
Schriftenreihe:Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft der Freien Universität Berlin 2014,24 : Economics
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Zusammenfassung:We examine the effects of increased international integration of both goods and financial markets on business cycle dynamics. To do so, we develop a new econometric framework for modelling cross-country spillovers in which the magnitude of these spillovers is an empirically determined function of the degree of a country's integration with international goods and financial markets. Our results suggest that the magnitude of cross-country spillovers for most country pairs has been increasing with strengthened goods and financial markets integration.
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