Globalisation and Macroeconomic Volatility
Michael Böhl
Broschiertes Buch

Globalisation and Macroeconomic Volatility

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During the last decades, international goods markets have become more integrated, part of a phenomenon summarised as "Globalisation". Cross-border goods trade has intensified enormously, accompanied by a rise in offshoring of production into other countries. At the same time, the volatility of key macroeconomic variables has become more stable, a phenomenon known as "Great Moderation". Variability of economic growth and inflation rates has declined significantly. The coincidence with regard to their timing stimulates questions whether and how both phenomena are related. Through this thesis, th...