Financial Market Integration in a Monetary Union

Arbeitspapier

Financial markets in Euroland differ from those of a national monetary union in two regards. First, capital markets in general and banking markets in particular show a greater degree of segmentation than national financial markets as a result of information costs and regulatory barriers to full integration. Second, financial market structures differ among the members of Euroland, which potentially affects the transmission of (monetary) shocks. This paper provides a simple model of a currency union which takes these peculiarities into account, focusing on the interaction of financial structures, the degree of capital mobility, the transmission of shocks, and the portfolio choices of banks.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Kiel Working Paper ; No. 1062

Classification and Topics

• Classification: Wirtschaft ; Financial Aspects of Economic Integration
• Subject: monetary union ; capital mobility ; financial structures ; transmission channels ; commercial banking ; Finanzmarkt ; Bank ; Marktintegration ; Internationale Kapitalmobilität ; Währungsunion ; Europäische Wirtschafts- und Währungsunion ; Finanzintermediär ; Internationale Kreditvergabe ; Portfolio-Management ; Kapitalstruktur

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Buch, Claudia M.
• Event: Veröffentlichung
• (who): Kiel Institute of World Economics (IfW)
• (where): Kiel
• (when): 2001

Further information

• Handle: http://hdl.handle.net/10419/17897
• Last update: 10.03.2025, 11:44 AM CET