Risk sharing for the long-run. The benefits from financial integration
Abstractof the resolution of uncertainty combined with endowments containing a slowly moving trend can result in extremely high welfare gains. The model is also able to account for a large set of international finance stylized facts. Our setup allows us to bridge part of the gap between the current finance and international macroeconomic literatures.
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Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2008 Meeting Papers with number 985.
Date of creation: 2008
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