Why don't we observe improvements in consumption smoothing as countries get more financially integrated: Bridging theory and empirics

Ergys Islamaj

Economics Letters, 2008, vol. 100, issue 2, 169-172

Abstract: This study provides suggestive theoretical and empirical evidence that the productivity shock correlation between a country and the rest of the world may help explain why we do not observe more consumption smoothing as countries have become more financially liberalized.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:100:y:2008:i:2:p:169-172

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