| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6198 |
| DP6198 The Effect of Segregation and Spatial Mismatch on Unemployment: Evidence from France | |
| Harris Selod; Laurent Gobillon | |
| 发表日期 | 2007-03-16 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We assume that individuals can fully insure themselves against cross-country shocks, but not against individual-specific shocks. We consider two particular models of limited risk-sharing: domestically incomplete markets (DI) and private information-Pareto optimal (PIPO) risk-sharing. For each model, we derive a restriction relating the cross-sectional distributions of consumption and real exchange rates. We evaluate these restrictions using household-level consumption data from the US and the UK. We show that the PIPO restriction fits the data well when households have a coefficient of relative risk aversion of around 5. The restrictions implied by the complete risk-sharing model and the DI model fare poorly. |
| 主题 | International Macroeconomics |
| 关键词 | Real exchange rate Pareto optimality Precautionary savings Market incompleteness |
| URL | https://cepr.org/publications/dp6198 |
| 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/535033 |
| 推荐引用方式 GB/T 7714 | Harris Selod,Laurent Gobillon. DP6198 The Effect of Segregation and Spatial Mismatch on Unemployment: Evidence from France. 2007. |
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