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Working Paper Series, Federal Reserve Bank of Boston >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/55550
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Giduskova, Maria | | en_US |
| dc.contributor.author | | Larrain, Borja | | en_US |
| dc.date.accessioned | | 2008-06-12 | | en_US |
| dc.date.accessioned | | 2012-02-23T07:59:28Z | | - |
| dc.date.available | | 2012-02-23T07:59:28Z | | - |
| dc.date.issued | | 2006 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/55550 | | - |
| dc.description.abstract | | We show that countries that take on more international risk are rewarded with higher expected consumption growth. International risk is defined as the beta of a country's consumption growth with world consumption growth. High-beta countries hold more foreign assets, as predicted by the theory. Despite the positive effects of beta, a country's idiosyncratic volatility is negatively correlated with expected consumption growth. Therefore, uninsured shocks affect not only current growth, but also future consumption growth. High-volatility countries have worse net foreign asset positions, suggesting that solvency constraints limit their future growth. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Federal Reserve Bank of Boston Boston, Mass. | | en_US |
| dc.relation.ispartofseries | | Working paper series // Federal Reserve Bank of Boston 06-17 | | en_US |
| dc.subject.jel | | E21 | | en_US |
| dc.subject.jel | | F3 | | en_US |
| dc.subject.jel | | G1 | | en_US |
| dc.subject.jel | | O16 | | en_US |
| dc.subject.jel | | O4 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.title | | International risk-taking, volatility, and consumption growth | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 568812573 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Working Paper Series, Federal Reserve Bank of Boston
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