This paper examines how bilateral economic linkages shape consumption synchronization across economies. Using state-level data from the US, we find that the degree of bilateral consumption risk sharing decreases with geographic distance. To explain this novel fact, we develop an open economy...

The notion of risk neutrality is a basic element in standard textbook treatments of the economics of risk. In the single variable case, it is well known that an Expected Utility maximizer will be risk neutral toward all distributions if and only if her NM (von Neumann Morgenstern) index is...

This study examines the impact of the abrupt suspension of African Growth and Opportunity Act benefits on exports from eligible African countries. The study uses a triple difference-in-differences estimation that controls for both country- and product-level export changes. The results suggest...