Date: 2016
Type: Article

Pareto weights as wedges in two-country models

Journal of economic dynamics and control, 2016, Vol. 72, pp. 98–110  
 
BACKUS, David, COLEMAN, Chase, FERRIERE, Axelle, LYON, Spencer, Pareto weights as wedges in two-country models, Journal of economic dynamics and control, 2016, Vol. 72, pp. 98–110   - https://hdl.handle.net/1814/44985

Retrieved from Cadmus, EUI Research Repository

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 Pareto weight in a two-country world and explore its interaction with consumption and the real exchange rate.
 
Cadmus permanent link: https://hdl.handle.net/1814/44985
Full-text via DOI: 10.1016/j.jedc.2016.04.003
ISSN: 0165-1889
Publisher: Elsevier
Keyword(s): Recursive preferences Consumption and risk-sharing Real exchange rate F31 F41

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