Title:Pareto weights as wedges in two-country models Author(s):BACKUS, David; COLEMAN, Chase; FERRIERE, Axelle; LYON, SpencerDate:2016Citation:
- Journal of economic dynamics and control, 2016, Vol. 72, pp. 98–110
Type:ArticleAbstract:In models with recursive preferences, endogenous variation in Pareto weights would be interpreted as wedges from the perspective of a frictionless model with additive preferences. We describe the behavior of the relative ...