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Standard models of international risk sharing with complete asset markets predict a positive association between relative consumption growth and real exchange-rate depreciations across countries. The striking lack of evidence for this link - the consumption/real exchange-rate anomaly or...
Persistent link: https://www.econbiz.de/10010290358
Standard models of international risk sharing with complete asset markets predict a positive association between relative consumption growth and real exchange-rate depreciations across countries. The striking lack of evidence for this link - the consumption/real-exchange-rate anomaly or...
Persistent link: https://www.econbiz.de/10005871071
Persistent link: https://www.econbiz.de/10003823092
Standard models of international risk sharing with complete asset markets predict a positive association between relative consumption growth and real exchange-rate depreciations across countries. The striking lack of evidence for this link — the consumption/real exchange-rate anomaly or...
Persistent link: https://www.econbiz.de/10003823587
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Persistent link: https://www.econbiz.de/10003938671
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"Recent macroeconomic experience has drawn attention to the importance of interdependence among countries through financial markets and institutions, independently of traditional trade linkages. This paper develops a model of the international transmission of shocks due to interdependent...
Persistent link: https://www.econbiz.de/10003975285
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