| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6315 |
| DP6315 Unemployment in East and West Europe | |
| Jan Svejnar; Daniel Münich | |
| 发表日期 | 2007-06-08 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In particular, we show that countries that are further from major locations of international financial activity systematically experience more volatile growth rates in both output and consumption, even after accounting for domestic financial depth, political institutions, and other controls. Our results are relatively robust in the sense that more financially remote countries are more volatile, though the results are not always statistically significant. The comparative strength of this finding is in contrast to the more ambiguous evidence found in the literature. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycle Capital Cross-section Data Distance Empirical Proximity |
| URL | https://cepr.org/publications/dp6315 |
| 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/535157 |
| 推荐引用方式 GB/T 7714 | Jan Svejnar,Daniel Münich. DP6315 Unemployment in East and West Europe. 2007. |
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