Macroeconomic risk and international financial markets
Citation:
Aidan Corcoran, 'Macroeconomic risk and international financial markets', [thesis], Trinity College (Dublin, Ireland). Department of Economics, 2010, pp 119Download Item:
Corcoran TCD THESIS 8999 Macroeconomic risk.pdf (PDF) 47.62Mb
Abstract:
This thesis is composed of three essays addressing the use of financial markets to hedge or gain
exposure to macroeconomic risk. The first essay examines the question of consumption risk sharing
between countries. Theory predicts that greater international financial integration should allow a
higher degree of idiosyncratic consumption risk to be shared, so that domestic consumption in any
given country should respond more to aggregate output shocks and less to domestic shocks. This
prediction has never held true in an empirical study of developing or emerging countries, and the
first essay of the thesis presents a number of reasons why this may be so.
Author: Corcoran, Aidan
Advisor:
Lane, PhilipQualification name:
Doctor of Philosophy (Ph.D.)Publisher:
Trinity College (Dublin, Ireland). Department of EconomicsNote:
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Economics, Ph.D., Ph.D. Trinity College Dublin.Licences: