Why don't we observe improvements in consumption smoothing as countries get more financially integrated: Bridging theory and empirics |
| |
| Authors: | Ergys Islamaj |
| |
| Affiliation: | aGeorgetown University, Department of Economics, 580 ICC, 37th and O Streets, NW, Washington, DC 20057, United States |
| |
| Abstract: | This study provides suggestive theoretical and empirical evidence that the productivity shock correlation between a country and the rest of the world may help explain why we do not observe more consumption smoothing as countries have become more financially liberalized. |
| |
| Keywords: | Consumption smoothing Consumption risk sharing, Financial integration Ad-hoc TFP |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
