Financial globalization and real regionalization

By Jonathan Heathcote, Fabrizio Perri. Journal of Economics Theory, 2004

304 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/7035db7bc2a4a17b37e586a115171bd0b74e4f96

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Nicolas Coeurdacier
2. Stéphane Guibaud
3. Fabrizio Perri
4. A. Fogli

In Finance

1. Stéphane Guibaud
2. Nicolas Coeurdacier
3. Fabrizio Perri

Citations in the corpus

• Financial Integration and International Risk Sharing (2006, unknown): “Perri and Heathcote (2004)[16] address the phenomenon of lower consumption co-movement between the U.”
• Trade, Finance, Specialization, and Synchronization (2003, unknown): “2 For the first line of argument, see Heathcote and Perri (2002a, 2002b).”
• The "great moderation'' and the US external imbalance (2006, background): “7Although there is some evidence that cross country business cycle correlation has actually declined through time (see Heathcote and Perri, 2004) in this experiment we keep it fixed to focus on the effects of the decline in volatility.”
• Business Cycle Transmission from the US to Germany: A Structural Factor Approach (2007, unknown): “…most productively, inducing specialization in goods production and, as for trade induced inter-industry specialization, loosening business cycle co-movement after industryspecific shocks (Canova and Marrinan (1998), Kalemli-Ozcan, Sørensen and Yosha (1999), Imbs (2004), Heathcote and Perri (2000)).”
• Understanding the Evolution of World Business Cycles (2005, unknown): “Helbling and Bayoumi (2002) document that while the correlations between the United States and other G-7 countries go down over the period of 1973-2001, most cross-country correlations across the other G-7 economies have remained quite stable during this period.”
• Solving the Elasticity Puzzle in International Economics (2003, unknown): “We choose to match a one period autocorrelation of 0.900, similar to the value of 0.906 used in Backus, Kehoe et al. (1992) and 0.910 in Heathcote and Perri (2003).”
• International portfolio diversification is better than you think (2011, background): “…labor income (Heathcote and Perri, 2007; see also Baxter and Jermann, 1997 for the opposite view); (ii) transaction costs (Martin and Rey, 2004; Heathcote and Perri, 2004); (iii) informational asymmetries (Gehrig, 1993; Hatchondo, 2008; Van Nieuwerburgh and Veldkamp, 2006); (iv) trade costs…”
• Financial Regulation, Financial Globalization and the Synchronization of Economic Activity (2009, unknown): “over late 1970s (10)For the broader literature that quantifies the effects of financial integration on economic growth, volatility, and risk sharing, see Bekaert, Harvey and Lundblad (2005, 2006, 2011); Bekaert, Lundblad, Siegel (2007); Henry (2000); Prasad, Kose, Rogoff, and Wei (2009); Kalemli-Ozc”
• Financial Globalization and Exchange Rates (2004, unknown): “However, as has been recently emphasized by Kalemli-Ozcan et al (2003) and Heathcote and Perri (2004), greater crossborder risk-sharing could also permit increased specialization in production, with sectoral shocks under that scenario translating into greater real exchange rate variability.”
• International comovements in inflation rates and country characteristics (2011, unknown): “Our findings on the stability of sensitivity to international inflation influences contrast with those of Heathcote and Perri (2004) on real variables.”