Risk sharing from international factor income: explaining cross-country differences
نویسندگان
چکیده
منابع مشابه
Accounting for Cross-Country Income Differences
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question “how much of the cross-country income variance can be attributed to differences in (physical and human) capital, and how much to differences in the efficiency with which capital...
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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: Applied Economics
سال: 2013
ISSN: 0003-6846,1466-4283
DOI: 10.1080/00036846.2011.617703