International Finance Discussion Papers: Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Mark by Charles Engel, John H. Rogers

International Finance Discussion Papers: Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Mark

Charles Engel, John H. Rogers

54 pages missing pub info (editions)

nonfiction politics
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Survey data show that the expected growth rates of consumption across countries vary widely and are not highly correlated. This data contradicts the simplest of open-economy models in which there is a freely traded non- state-contingent bond and p...

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