A basic prediction of effcient risk-sharing is that relative consumption growth rates across countries or regions …, employing a newly constructed multi-country and multi-regional data set. Within countries, we find signifcant evidence for risk …. We identify this failure of risk sharing as a border effect. We find that the border effect is substantially (but not …

accounts for the interaction between temperature, economic growth and risk. The model simultaneously matches the projected … temperature path, the observed consumption growth dynamics, discount rates provided by the risk-free rate and equity market …

economy. Such redistributive policies entail distortions to labor supply and savings, but also serve as partial substitutes …

savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and …

consumption and saving are consistent with life-cycle theory. The patterns of consumption and saving across households of … household consumption tracks income closely. and this evidence casts doubt on simple life-cycle theory …

, the composition of national savings, and the determinants of the evolution of household saving rates. During 2000 …. Corporate savings have surged across Asia during this period, becoming the main component of gross national savings in the … region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving …

, the composition of national savings, and the determinants of the evolution of household saving rates. During 2000 …. Corporate savings have surged across Asia during this period, becoming the main component of gross national savings in the … region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving …