Risky Habits: on Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations

Standard international economic models with life cycle/permanent income consumption behavior predict that international portfolio diversification leads to high bilateral consumption correlations. Thus international consumption correlations have been empirically estimated as a test of international p...

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Veröffentlicht in:	Review of international economics 2006-09, Vol.14 (4), p.722-740
Hauptverfasser:	Fuhrer, Jeffrey C., Klein, Michael W.
Format:	Artikel
Sprache:	eng
Schlagworte:	Aggregate analysis Consumption Correlation Correlation analysis Diversification Economic models G-7 International economics Model testing Portfolio diversification Risk sharing Studies World economy
Online-Zugang:	Volltext
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