Title:
Globalization and International Business Cycle Dynamics
Subtitle:
a Conditional GVAR Approach
Author(s):
Binder, Michael; Offermanns, Christian J.
Year of publication:
2014
Available Date:
2014-10-09T11:33:06.626Z
Abstract:
We examine the effects of increased international integration of both goods
and financial markets on business cycle dynamics. To do so, we develop a new
econometric framework for modelling cross-country spillovers in which the
magnitude of these spillovers is an empirically determined function of the
degree of a country's integration with international goods and financial
markets. Our results suggest that the magnitude of cross-country spillovers
for most country pairs has been increasing with strengthened goods and
financial markets integration.
Keywords:
Business Cycle Dynamics
International Goods and Financial Market Integration
Dynamic Panel Data Models
Global VAR Model
DDC-Classification:
330 Wirtschaft
337 Weltwirtschaft
Department/institution:
Wirtschaftswissenschaft
Series/Multivolume:
Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft der Freien Universität Berlin
Series/Multivolume Number:
2014,24 : Economics