全球智库信息集成服务系统(G2TT): DP1456 Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States?

G2TT

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.