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Consumption Volatility and Financial Openness
[Zeitschriftenartikel]
Abstract Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find evidence that greater financial openness has be... mehr
Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find evidence that greater financial openness has been associated with lower consumption volatility. However, volatility of consumption relative to output has not declined.... weniger
Klassifikation
Volkswirtschaftstheorie
Sprache Dokument
Englisch
Publikationsjahr
2009
Seitenangabe
S. 3635-3649
Zeitschriftentitel
Applied Economics, 42 (2009) 28
DOI
https://doi.org/10.1080/00036840802260916
ISSN
1466-4283
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)