Off-campus WSU users: To download campus access dissertations, please use the following link to log into our proxy server with your WSU access ID and password, then click the "Off-campus Download" button below.
Non-WSU users: Please talk to your librarian about requesting this dissertation through interlibrary loan.
Date of Award
Robert J. Rossana
Financial crisis of 2007 provides a renewed interest in financial market linkages and their effect on macro variables. In an open-economy dynamic stochastic general equilibrium model setting, two things are investigated in this paper. First, what role do financial linkages play in propagating asymmetric cross-country dynamics. Specifically, the impact of a productivity shock in home country leads to a more synchronous behavior in consumption and investment in recessions than in expansions. Secondly, a new source of shock is included, one in the financial sector itself. Cross-country asset prices and fixed assets move identically in this scenario implying perfect risk-sharing.
Sondhi, Arjun, "Essays In International Macroeconomics" (2017). Wayne State University Dissertations. 1879.