Browsing ECO Working Papers by Subject "International Risk-Sharing"

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Browsing ECO Working Papers by Subject "International Risk-Sharing"

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    Title: The International Risk-Sharing Puzzle is at Business Cycle and Lower Frequency  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; VIANI, Francesca Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We decompose the Backus-Smith [1993] statistic -- a low or negative correlation between relative consumption and the real exchange rate at odds with a high degree of international risk sharing -- in its dynamic components ...