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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP1456 |
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 |
URL | https://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. |
条目包含的文件 | 条目无相关文件。 |
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