Risk Aversion at the Country Level
Nestor Gandelman and
Ruben Hernandez-Murillo
No 2014-5, Working Papers from Federal Reserve Bank of St. Louis
Abstract:
In this paper we provide estimates of the coefficient of relative risk aversion for 80 countries using data on self-reports of personal well-being from the Gallup World Poll. For most countries we cannot reject the null hypothesis that the coefficient of relative risk aversion equals 1. We conclude that our result supports the use of the log utility function in numerical simulations.
JEL-codes: D31 D80 I31 O57 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2014-02-01
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Citations: View citations in EconPapers (13)
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Journal Article: Risk Aversion at the Country Level (2015) 
Working Paper: Risk aversion at the country level (2014) 
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DOI: 10.20955/wp.2014.005
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