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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19480| Title: | Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans |
| Keywords: | F36 G22 E21 ddc:330 Consumption Smoothing International Economic Insurance Arrow-Debreu Securities Foreign Loans International Risk Sharing Versicherung international Internationale Anleihe Gesamtwirtschaftlicher Konsum Zeitpräferenz Risiko Wohlfahrtseffekt Theorie Schätzung Welt risk sharing |
| Issue Date: | 16-Oct-2013 |
| Description: | When countries, and macroeconomic models, open up to international capital markets, the welfare gains available through completion of financial markets for contingencies potentially are much greater than those available from access to noncontingent international borrowing. Intercasual insurance, reducing exposure to differences in contingent future cases, and not intertemporal smoothing between now and then is the big story in open economies although the two must be told together. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19480 |
| Other Identifiers: | http://hdl.handle.net/10419/19480 ppn:391525301 RePEc:zbw:bubdp1:2158 |
| Appears in Collections: | EconStor |
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