Pareto Weights as Wedges in Two-Country Models

David Backus, Chase Coleman, Axelle Ferriere and Spencer Lyon

No 21773, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: F31 F41 (search for similar items in EconPapers)
Date: 2015-12
New Economics Papers: this item is included in nep-dge and nep-opm
Note: IFM
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Citations: View citations in EconPapers (3)

Published as David Backus & Chase Coleman & Axelle Ferriere & Spencer Lyon, 2016. "Pareto weights as wedges in two-country models," Journal of Economic Dynamics and Control, .

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Related works:
Journal Article: Pareto weights as wedges in two-country models (2016)
Working Paper: Pareto weights as wedges in two-country models (2016)
Working Paper: Pareto weights as wedges in two-country models (2015)
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