International Income Transfers under Technological Uncertainty
This paper examines the effects of international income transfers in the presence of technological uncertainty and shows the following results. First, a transfer paradox can occur only if the rates of return from assets are not equalized between the donor and the recipient. Second, the more risk-averse consumers are in both countries, the more likely a transfer paradox is to occur.
|Date of creation:||Jan 2001|
|Date of revision:|
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