Replication data for: Trade Costs, Asset Market Frictions, and Risk Sharing

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Project Citation:

Fitzgerald, Doireann. Replication data for: Trade Costs, Asset Market Frictions, and Risk Sharing. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112557V1

Project Description

Summary: I use bilateral import data to test for and quantify the importance of trade costs and asset market frictions in explaining the failure of perfect international consumption risk sharing. I find that while frictions in international asset markets significantly impede optimal consumption risk sharing between developed and developing countries over the period 1970-2000, developed countries are close to optimal risk sharing with each other. Trade costs, in contrast, significantly impede risk sharing for all countries. (JEL E21, E44, F14, F41, G15)

Scope of Project

JEL Classification:
      E21 Macroeconomics: Consumption; Saving; Wealth
      E44 Financial Markets and the Macroeconomy
      F14 Empirical Studies of Trade
      F41 Open Economy Macroeconomics
      G15 International Financial Markets

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V1 [2019-10-11]

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