search query: @indexterm risk sharing / total: 46
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| Author: | Marrinan, J. |
| Title: | Government consumption and private consumption correlations. |
| Journal: | Journal of International Money and Finance
1998 : AUG, VOL. 17:4, p. 615-636 |
| Index terms: | PUBLIC EXPENDITURE RISK SHARING ECONOMIC AGGREGATES BUSINESS CYCLES |
| Language: | eng |
| Abstract: | The author examines whether the introduction of government consumption expenditure in a standard one good model of the international real business cycles is sufficient to reconcile the theory with the existing pattern of international consumption and output correlations. She shows that the model can account for existing international correlations only under specific assumptions about the size of effect of government expenditure on agents' utility or the variability of government expenditure shocks. |
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