Corsetti, Giancarlo (contributor); Dedola, Luca (contributor) - 2004
economy characterized by large
deviations from purchasing power parity, efficient risk-sharing enables households to take … purchasing power parity, efficient risk-sharing allows domestic households to con-
sume more when their consumption basket is … of one price and purchasing power parity (PPP). It is only when PPP holds (i.e., g82g69g82 =1)
that efficient risk …