Financial market integration, labor markets, and macroeconomic policies |
| |
| Authors: | M. Alper enesiz,Christian Pierdzioch |
| |
| Affiliation: | aSaarland University and University of Kiel Department of Economics, Germany;bSaarland University, Department of Economics, Germany |
| |
| Abstract: | We used a dynamic two-country optimizing model featuring a labor–market friction to analyze the implications of financial market integration for the propagation of macroeconomic policies in an open economy. Our main result is that the labor–market friction we analyzed substantially reduces the magnitude of the effect of financial market integration on the propagation of macroeconomic policies. |
| |
| Keywords: | Open economy macroeconomics Financial market integration Labor– market friction |
| 本文献已被 ScienceDirect 等数据库收录！ |
