How big are potential welfare gains from international risksharing?
نویسندگان
چکیده
منابع مشابه
Habit Persistence and Welfare Gains from International Asset Trade
We introduce habit formation in a model that studies the link between international trade in financial assets, economic growth, and welfare. As with time separable preferences asset trade increases the mean growth rate, but it also increases growth-volatility. We demonstrate that the welfare gain from asset trade is lower with habit persistence in consumption. This reflects that the habit-formi...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 1999
ISSN: 0022-1996
DOI: 10.1016/s0022-1996(98)00007-5