Capital Markets Integration, Volatility and Persistence
收藏NBER1995-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w5241
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资源简介：
This paper shows that volatility induces adverse first order welfare effects in countries excluded from the global capital market. This result is illustrated in a model characterized by gains from a greater division of activities, where shocks are persistent. We show that non-linearities attributed
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美国国家经济研究局创建时间：
1995-08-01
