Globalization and Risk Sharing

We study the effects of globalization on risk sharing and welfare. Like the previous literature, we assume that governments cannot commit to enforce the repayment of debts owed by their citizens. Unlike the previous literature, we assume that governments cannot discriminate between domestic and fore...

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Veröffentlicht in:	The Review of economic studies 2011-01, Vol.78 (1), p.49-82
Hauptverfasser:	Broner, Fernando, Ventura, Jaume
Format:	Artikel
Sprache:	eng
Schlagworte:	Asset markets Debt Domestic trade Economic integration Economic theory Endowments Financial risk Globalization Government International economics International trade Payments Repayments Risk sharing Spreading risk Studies Trade policy Welfare costs
Online-Zugang:	Volltext
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