| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3066 |
| DP3066 International Portfolio Choice: Liquidity Constraints and the Home Equity Bias Puzzle | |
| Alexander Michaelides | |
| 发表日期 | 2001-11-11 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | The idea that income differences between rich and poor nations arise through multiple equilibria or ?poverty traps? is as intuitive as it is difficult to verify. In this Paper, we explore the empirical relevance of such models. We calibrate a simple two-sector model for 127 countries, and use the results to analyse the international prevalence of poverty traps and their consequences for productivity. We also examine the possible effects of multiplicity on the world distribution of income, and identify events in the data that may correspond to equilibrium switching. |
| 主题 | International Macroeconomics |
| 关键词 | Multiple equilibria Poverty traps World income distribution |
| URL | https://cepr.org/publications/dp3066 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532098 |
| 推荐引用方式 GB/T 7714 | Alexander Michaelides. DP3066 International Portfolio Choice: Liquidity Constraints and the Home Equity Bias Puzzle. 2001. |
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