RT Journal Article
T1 Macroeconomic volatility and international integration.
A1 Arespa-Castelló, Marta
K1 Macroeconomía
K1 Integración económica
K1 Precios
AB This paper explores the effects that varying degrees of international openness have on macroeco- nomic volatility. The analysis is conducted for a two-symmetric-country world under three levels of international integration: that of a closed economy, a financial autarky, and full financial integration.Different degrees of trade openness are considered in the form of home biases, while the economy is left vulnerable to total factor productivity and innovation shocks. Full financial integration is found to reduce firm-size volatility and volatility in the mass of operative firms following a productivity shock and to increase them after an innovation shock. Moreover, the interaction between interna- tional sharing of profits and terms of trade transmissions determines the non-linear behaviour of consumption-to-output ratio volatility found in empirical studies.
PB John Wiley & Sons Ltd
YR 2014
FD 2014-04-21
LK https://hdl.handle.net/10630/28668
UL https://hdl.handle.net/10630/28668
LA eng
NO Arespa, M. (2015), Macroeconomic volatility and international integration. Bulletin of Economic Research, vol. 67 (4)
NO Spanish Ministry of Science and Innovation through grant ECO2012-34046.
DS RIUMA. Repositorio Institucional de la Universidad de Málaga
RD 19 ene 2026