Perfect risk-sharing restrictions in the state space
I propose a state-space approach to test for international risk sharing at different horizons. Running the tests on US data <italic>vis-à-vis</italic> the rest of the world, I find that market incompleteness is pervasive: the null is rejected at all horizons.
Year of publication: |
2013
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Authors: | Trezzi, Riccardo |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 20.2013, 6, p. 545-548
|
Publisher: |
Taylor & Francis Journals |
Saved in:
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