Business Cycle Synchronization Between Australia and New Zealand | Science Publications

American Journal of Applied Sciences

Minsoo Lee¹  Jie Wei¹  Christopher Gan¹ 

关键词: Shock transmission channels;    Business cycle;    Monetary policy;    Exchange rate pass-through;   

DOI  :  10.3844/ajassp.2007.1045.1053

学科分类：自然科学（综合）

来源: Science Publications

【 摘 要 】

There has been a high degree of economic and financial integration between Australia and New Zealand with free trade agreements linking the capital and labor markets. Given a strong economic relationship, business-cycle transmission is expected to exist between the two countries. By analyzing the shock-transmission channels via trade, monetary policy, and exchange rates between Australia and New Zealand we can infer that if Australia and New Zealand trade less, have more similar monetary policy structure, or have less similar economic structures they would have stronger economy correlation. The results also show that the highly integrated banking system between Australia and New Zealand is an additional avenue for shock transmission between both countries.

【 授权许可】

Unknown