G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1456
DP1456 Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States?
Carlo A. Favero; Marco Pifferi; Fabrizio Iacone
发表日期1996-09-30
出版年1996
语种英语
摘要A country?s suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity or trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other countries. But international trade patterns and international business cycle correlations are endogenous. This paper develops and investigates the relationship between the two phenomenon. Using 30 years of data for 20 industrialized countries, we uncover a strong and striking empirical finding: countries with close trade links tend to have more tightly correlated business cycles. It follows that countries are more likely to satisfy the criteria for entry into a currency union after taking steps towards economic integration than before.
主题International Macroeconomics
关键词Business cycle Empirical Instrumental variables Integration International Trade
URLhttps://cepr.org/publications/dp1456
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/530600
推荐引用方式
GB/T 7714
Carlo A. Favero,Marco Pifferi,Fabrizio Iacone. DP1456 Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States?. 1996.
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