| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12587 |
| 来源ID | Working Paper 12587 |
| Volatility in International Financial Market Issuance: The Role of the Financial Center | |
| Marco Cipriani; Graciela L. Kaminsky | |
| 发表日期 | 2006-10-13 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We study the pattern of volatility of gross issuance in international capital markets since 1980. We find several short-lived episodes of high volatility. Over the long run, however, volatility has declined, suggesting that international financial integration has not made financial markets more erratic. We use VAR analysis to examine the determinants of the time-varying pattern of volatility, focusing in particular on the role of financial centers. Our results suggest that a significant portion of the decline in volatility of issuance in international capital markets can be explained by the reduction in the volatility of U.S. interest rates. |
| 主题 | International Economics ; International Finance |
| URL | https://www.nber.org/papers/w12587 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570248 |
| 推荐引用方式 GB/T 7714 | Marco Cipriani,Graciela L. Kaminsky. Volatility in International Financial Market Issuance: The Role of the Financial Center. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12587.pdf（201KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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