Balli, Faruk; Balli, Hatice O. - In: Economic Modelling 28 (2011) 4, pp. 1642-1649
We examine the potential welfare gains and channels of income smoothing for Pacific Island Countries (PICs) and find that, under full risk sharing overall welfare gains across all PICs (particularly, Kiribati, Palau, and Papua New Guinea) are at desirable levels. However, for Australia, the...