Financial market integration, labor markets, and macroeconomic policies

Alper Çenesiz () and Christian Pierdzioch

International Review of Economics & Finance, 2008, vol. 17, issue 3, 467-476

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.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:17:y:2008:i:3:p:467-476

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