Spurious welfare reversals in international business cycle models.
Several papers have documented spurious welfare reversals: incomplete-markets economy produces a higher level of welfare than the complete-markets economy. This paper first demonstrates how conventional linearization can generate approximation errors that can result in welfare reversals. Using a two...
| Publicado en: | Journal of International Economics Vol. 60; no. 2; pp. 471 - 501 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Elsevier Science
August 2003
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |