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dc.contributor.authorBROER, Tobias
dc.date.accessioned2010-02-08T14:17:14Z
dc.date.available2010-02-08T14:17:14Z
dc.date.issued2009
dc.identifier.citationFlorence, European University Institute, 2009
dc.identifier.urihttp://hdl.handle.net/1814/13214
dc.descriptionDefense date: 21/12/2009en
dc.descriptionExamining Board: Prof. Giancarlo Corsetti, EUI Prof. Dirk Krueger, University of Pennsylvania Prof. Morten Ravn, University College London, Supervisor Prof. Hélène Rey, London Business Schoolen
dc.description.abstractDoes financial globalisation increase inequality? Should households with little financial wealth still hold foreign assets? Are consumption patterns of low income earners more dispersed than those of the rich? Do aggregate savings rise or fall when a society becomes more unequal? These are some of the questions I raise in this thesis. Its central theme is the role of individual heterogeneity in an international economy, with a focus on idiosyncratic risks and income inequality within countries. This allows me to look at some well-recognised policy issues from a new angle, such as the fall in the US current account, which I argue could be influenced by changes in the structure of domestic income inequality. But the combination of the individual with the international level of analysis also enables me to ask new questions, for example whether wealthier households are less biased towards domestic assets in their portfolio decisions than poorer households, and why this could be. The thesis can thus be understood as an attempt to link two literatures that have largely remained separate in the past: that on imperfect domestic risk-sharing, on the one hand, and the international economics literature on the other. This is especially true for chapters 1 and 2. They build on the analysis in chapters 3 and 4, which concentrate on an economic environment where risk-sharing is imperfect because agents cannot commit to honour financial contracts, and analyse the resulting equilibrium and its characteristics in a closed economy.en
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEUI PhD thesesen
dc.relation.ispartofseriesDepartment of Economicsen
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subject.lcshInternational economic relations
dc.subject.lcshInternational finance
dc.titleHeterogeneous Individuals in the International Economyen
dc.typeThesisen
dc.identifier.doi10.2870/13714
dc.neeo.contributorBROER|Tobias|aut|
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