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このアイテムの引用には次の識別子を使用してください: http://hdl.handle.net/10114/7098

タイトル: Growth Effects of International Economic Integration
著者: Hino, Tomoko
発行日: 2011-3
出版者: The Institute of Comparative Economic Studies, Hosei University
抄録: This paper quantitatively evaluates the influence of international risk sharing on econom-ic growth by extending the analysis in Obstfeld (1994). However, whereas Obstfeld employs only data on the growth rate of consumption to calculate the returns on risky and risk-free assets, we include additional data on the total rates of return for risky assets and the deposit rates for risk-free assets. We also assume more realistic values for the degree of relative risk aversion and the elasticity of intertemporal substitution. Our calibrations indicate that a fully integrated financial market could significantly increase welfare.
URI: http://hdl.handle.net/10114/7098
ISSN: 09111247
出現コレクション:Journal of International Economic Studies


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