G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w12482
来源IDWorking Paper 12482
Globalization and Risk Sharing
Jaume Ventura; Fernando A. Broner
发表日期2006-08-24
出版年2006
语种英语
摘要This paper presents a theoretical study of the e¤ects of globalization on risk sharing and welfare. We model globalization as a gradual and exogenous increase in the fraction of goods that are tradable. In the absence of frictions, globalization opens new goods markets and raises welfare. We assume, however, that countries cannot commit to pay their debts. Unlike the previous literature, and motivated by changes in the institutional setup of emerging-market borrowing, we also assume that countries cannot discriminate between domestic and foreign creditors when paying their debts. Although globalization still opens new goods markets, we find that it can also open or close some asset markets. The net e¤ect on risk sharing and welfare of this process of creation and destruction of markets might be either positive or negative depending on a variety of factors that the theory highlights.
主题Macroeconomics ; Consumption and Investment ; International Economics ; International Finance ; Financial Economics ; Financial Markets
URLhttps://www.nber.org/papers/w12482
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/570139
推荐引用方式
GB/T 7714
Jaume Ventura,Fernando A. Broner. Globalization and Risk Sharing. 2006.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w12482.pdf(501KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Jaume Ventura]的文章
[Fernando A. Broner]的文章
百度学术
百度学术中相似的文章
[Jaume Ventura]的文章
[Fernando A. Broner]的文章
必应学术
必应学术中相似的文章
[Jaume Ventura]的文章
[Fernando A. Broner]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w12482.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。