Pareto weights as wedges in two-country models
Axelle Ferriere () and
Journal of Economic Dynamics and Control, 2016, vol. 72, issue C, 98-110
In models with recursive preferences, endogenous variation in Pareto weights would be interpreted as wedges from the perspective of a frictionless model with additive preferences. We describe the behavior of the relative Pareto weight in a two-country world and explore its interaction with consumption and the real exchange rate.
Keywords: Recursive preferences; Consumption and risk-sharing; Real exchange rate (search for similar items in EconPapers)
JEL-codes: F31 F41 (search for similar items in EconPapers)
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Working Paper: Pareto weights as wedges in two-country models (2016)
Working Paper: Pareto Weights as Wedges in Two-Country Models (2015)
Working Paper: Pareto weights as wedges in two-country models (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:72:y:2016:i:c:p:98-110
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