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Our aim is to explore how globalisation has affected consumption risk-sharing in emerging market economies. To that end …, we implement a consumption risk-sharing test, using the Barro-Ursua Macroeconomic data set. Its span lets us explore … historic episodes in which globalisation has markedly changed. We account for risk aversion heterogeneity by using the …
Persistent link: https://www.econbiz.de/10012893167
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In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have witnessed...
Persistent link: https://www.econbiz.de/10011410453
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In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle' that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have...
Persistent link: https://www.econbiz.de/10013240937
In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the "boom-bust cycle" that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have...
Persistent link: https://www.econbiz.de/10013320404
In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle' that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have...
Persistent link: https://www.econbiz.de/10012469490
This study investigates the apparent lack of insurance against country-specific risk observed internationally. Using a …-movements of prices and quantities suggesting that risk sharing is worse in emerging economies than in advanced economies. I then … international risk sharing. I show that shocks to trend productivity growth provide a compelling explanation for the distinct risk …
Persistent link: https://www.econbiz.de/10012833467
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