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010   $a9786612843525
010   $a1-282-84352-4
010   $a1-4518-7285-2
035   $a(CKB)3170000000055255
035   $a(EBL)1608271
035   $a(SSID)ssj0001478137
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035   $a(PQKBTitleCode)TC0001478137
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035   $a(OCoLC)586082024
035   $a(MiAaPQ)EBC1608271
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100   $a20041202d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aInternational risk sharing$b[electronic resource] $ethrough equity diversification or exchange rate hedging? /$fprepared by Charles Engel and Akito Matsumoto
210   $a[Washington D.C.] $cInternational Monetary Fund$d2009
215   $a1 online resource (47 p.)
225 1 $aIMF working paper ;$vWP/09/138
300   $aDescription based upon print version of record.
311   $a1-4519-1714-7 
320   $aIncludes bibliographical references.
327   $aContents; I. Introduction; II. A General Result in a Static Framework; III. A Dynamic Sticky-Price Model with Local-Currency Pricing; A. Household Problem; B. Firms; C. Equilibrium Portfolios under LCP and Flexible Wages; D. Equilibrium Portfolios under LCP and Sticky Wages; E. A Dynamic Sticky-Price Model with Producer-Currency Pricing; IV. Conclusion; Tables; 1. Optimal Portfolios under LCP, Flexible Wages; 2. Optimal Portfolios under LCP, Sticky Wages; 3. Optimal Portfolios under PCP, Flexible Wages; 4. Optimal Portfolios under PCP, Sticky Wages; References
330   $aWell-known empirical puzzles in international macroeconomics concern the large divergence of equilibrium outcomes for consumption across countries from the predictions of models with full risk sharing. It is commonly believed that these risk-sharing puzzles are related to another empirical puzzle-the home-bias in equity puzzle. However, we show in a series of dynamic models that the full risk sharing equilibrium may not require much diversification of equity portfolios when there is price stickiness of the degree typically calibrated in macroeconomic models. This conclusion holds under a range
410  0$aIMF working paper ;$vWP/09/138.
606   $aRisk
606   $aHedging (Finance)
608   $aElectronic books.
615  0$aRisk.
615  0$aHedging (Finance)
700   $aEngel$b Charles$0125885
701   $aMatsumoto$b Akito$0937144
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910464011703321
996   $aInternational risk sharing$92234358
997   $aUNINA