Resource title

Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans

Resource image

image for OpenScout resource :: Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans

Resource description

When countries, and macroeconomic models, open up to international capital markets, the welfare gains available through completion of financial markets for contingencies potentially are much greater than those available from access to noncontingent international borrowing. Intercasual insurance, reducing exposure to differences in contingent future cases, and not intertemporal smoothing between now and then is the big story in open economies although the two must be told together.

Resource author

George M. von Furstenberg

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19480

Resource license

Adapt according to the presented license agreement and reference the original author.