Incomplete asset markets and the cross-country consumption correlation puzzle

DOI10.1016/0165-1889(95)00883-7zbMath0875.90127OpenAlexW2042215199MaRDI QIDQ1351663

Robert Kollmann

Publication date: 27 February 1997

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0165-1889(95)00883-7

zbMATH Keywords

Business cyclesConsumptionRisk sharingIncomplete asset markets

Mathematics Subject Classification ID

Economic growth models (91B62) Consumer behavior, demand theory (91B42)

Related Items

A method for solving general equilibrium models with incomplete markets and many financial assets ⋮ Elastic attention, risk sharing, and international comovements ⋮ Composite habits and international transmission of business cycles ⋮ Budgetary-neutral fiscal policy rules and external adjustment ⋮ Exchange rates dynamics with long-run risk and recursive preferences ⋮ International business cycles with complete markets ⋮ Explaining international business cycle synchronization: recursive preferences and the terms of trade channel ⋮ Can indeterminacy resolve the cross-country correlation puzzle? ⋮ Limited participation in international business cycle models: a formal evaluation ⋮ By force of demand: Explaining international comovements ⋮ Government purchases and the real exchange rate ⋮ Explaining international comovements of output and asset returns: The role of money and nominal rigidities.

Cites Work

• Unnamed Item
• The International Transmission of Real Business Cycles
• The Solution of Linear Difference Models under Rational Expectations
• Stochastic Depreciation and the Business Cycle