Characterizing Cross-Country Consumption Correlations
نویسندگان
چکیده
منابع مشابه
International Risk Sharing and Low Cross-Country Consumption Correlations: Are They Really Inconsistent?
In dynamic equilibrium trade models, the common assumption that asset markets are complete implies that correlations of consumption across countries should be quite high. In contrast, measured consumption correlations tend to be rather low. While some suggest this implies that asset market incompleteness is a fundamental feature determining international trade dynamics, this paper provides an e...
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ژورنال
عنوان ژورنال: Review of Economics and Statistics
سال: 1998
ISSN: 0034-6535,1530-9142
DOI: 10.1162/003465398557285