Financial Volatility and Real Economic Activity - Couverture rigide

Daly, Kevin James

Couverture rigide

ISBN 10 : 184014873X ISBN 13 : 9781840148732

Editeur : Ashgate Publishing Limited, 1999

Synopsis

The issue of financial volatility, especially since financial deregulation, has given rise to concerns regarding the effects of increased financial volatility on real economic activity. Two issues represent a substantial challenge to financial economists with respect to these concerns. The first relates to the identification of the causes of increased volatility in financial markets. Identification is a first step towards increasing both financial economists' and policy-makers' understanding of the interrelated causes of financial volatility. The second requires linking the effects of increased financial volatility to the real sector of the economy by examining the channels through which financial volatility influences fundamental economic variables. In order to address these two issues, the analysis initially develops and estimates a model which is capable of explaining the financial and business cycle determinates of movements in the conditional volatility of the Australian All Industrials stock market index. Evidence suggests that a significant linkage exists between the conditional volatility of the money supply. Models are then developed to examine how monetary volatility is transmitted to the volatility of financial asset prices, inflation and real output in an open economy. The results indicate that while financial volatility has increased to some extent since the late 1980s, this has been transferred non-uniformly towards increasing volatility of both real and financial activity.

Détails de l'édition

• Éditeur: Ashgate Publishing Limited
• Date d'édition: 1999
• Langue: anglais
• ISBN 10: 184014873X
• ISBN 13: 9781840148732
• Reliure: Relié
• Nombre de pages: 222
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible