| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7300 |
| DP7300 Marry for What? Caste and Mate Selection in Modern India | |
| Abhijit Banerjee; Esther Duflo; Maitreesh Ghatak; Jeanne Lafortune | |
| 发表日期 | 2009-05-24 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Kocherlakota and Pistaferri (EJ, 2007) [KP] develop a model of a world economy with private-information Pareto optimal (PIPO) risk sharing; in that model, the real exchange rate tracks relative domestic/foreign cross-sectional distributions of consumption. KP claim that the PIPO model fits the UK/US real exchange rate well. This paper shows that the PIPO model is inconsistent with the UK/US data. Minor specification changes overturn KP?s regression results. I also document that the relevant (relative) cross-sectional consumption moment is orders of magnitude more volatile than the real exchange rate, and less persistent. The link between the real exchange rage and consumption (heterogeneity) remains a puzzle. |
| 主题 | International Macroeconomics |
| 关键词 | Heterogeneity international risk sharing Real exchange rate |
| URL | https://cepr.org/publications/dp7300 |
| 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/536138 |
| 推荐引用方式 GB/T 7714 | Abhijit Banerjee,Esther Duflo,Maitreesh Ghatak,et al. DP7300 Marry for What? Caste and Mate Selection in Modern India. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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