Risk aversion at the country level

Nestor Gandelman and Rubén Hernández-Murillo
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Rubén Hernández-Murillo: Federal Reserve Bank of St. Louis
Authors registered in the RePEc Author Service: Ruben Hernandez-Murillo

No 98, Documentos de Investigación from Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales

Abstract: In this paper we provide estimates of relative risk aversion for 80 countries using data on selfreports 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. This result supports the use of the log utility function in numerical simulations.

Keywords: relative risk aversion; happiness; personal well-being (search for similar items in EconPapers)
JEL-codes: D31 D80 I31 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2014-02
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Risk Aversion at the Country Level (2015)
Working Paper: Risk Aversion at the Country Level (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:avs:wpaper:98

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