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(Harmonized System 10- digit) bilateral exports to the United States. The patterns in the data are consistent with the theory. The …
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international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …
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