| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1599 |
| DP1599 The Causes of Regionalism | |
| Richard Baldwin | |
| 发表日期 | 1997-03-27 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper analyses the empirical interdependence of asset returns, real activity and inflation from a multicountry and international point of view. We find that nominal stock returns are significantly related to inflation only in the United States, that the US term structure of interest rates predicts both domestic and foreign inflation rates while foreign term structures do not have this predictive power and that innovations in inflation and exchange rates induce insignificant responses of real and financial variables. An interpretation of the dynamics and some policy implications of the results are provided. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycles Financial markets International stock returns Transmission |
| URL | https://cepr.org/publications/dp1599 |
| 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/530739 |
| 推荐引用方式 GB/T 7714 | Richard Baldwin. DP1599 The Causes of Regionalism. 1997. |
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