| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1038 |
| DP1038 Foreign Exchange Intervention and International Policy Coordination: Comparing the G-3 and EMS Experience | |
| Axel A. Weber | |
| 发表日期 | 1994-10-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | This paper uses consumption patterns across countries to measure capital market integration. It argues that earlier empirical tests of this type were potentially mis-specified and proposes a more robust specification. The results indicate that Japan was the only industrialized country for which national consumption was fully integrated with the rest of the world over the period 197389. For the other countries the source of the failure varies. Within the European Union it is generally associated with incomplete integration across capital markets. Elsewhere, consumption is found to be excessively dependent on disposable income. |
| 主题 | International Macroeconomics |
| 关键词 | Consumption International capital markets |
| URL | https://cepr.org/publications/dp1038 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530179 |
| 推荐引用方式 GB/T 7714 | Axel A. Weber. DP1038 Foreign Exchange Intervention and International Policy Coordination: Comparing the G-3 and EMS Experience. 1994. |
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