Risk Aversion at the Country Level

In this paper we provide estimates of the coefficient of relative risk aversion for 80 countries using data on self-reports of personal well-being from the Gallup World Poll. For most countries we cannot reject the null hypothesis that the coefficient of relative risk aversion equals 1. We conclude that our result supports the use of the log utility function in numerical simulations

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Year of publication:	2014
Authors:	Gandelman, Nestor
Other Persons:	Hernandez-Murillo, Ruben (contributor)
Publisher:	[2014]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (11 p)
Series:	FRB of St. Louis Working Paper ; No. 2014-005A
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 1, 2013 erstellt
Other identifiers:	10.2139/ssrn.2396103 [DOI]
Classification:	D80 - Information and Uncertainty. General ; D31 - Personal Income, Wealth and Their Distributions ; I31 - General Welfare; Basic Needs; Quality of Life ; O57 - Comparative Studies of Countries
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013058792