Commodity trade and international risk sharing

# Commodity trade and international risk sharing > OpenAlex Metadata Hub · https://openalex.org/W3097259473 ## Bibliographic - **DOI:** 10.1016/0304-3932(91)90023-h - **Year:** 1991 - **Citations:** 474 - **Open Access:** Yes (hybrid) - **License:** cc-by-nc-nd - **Source:** https://doi.org/10.1016/0304-3932(91)90023-h ## Authors - Harold L. Cole - Maurice Obstfeld ## Abstract This paper evaluates the social gains from international risk sharing in some simple general-equilibrium models with output uncertainty. A simulation model calibrated to selected moments of U.S. and Japanese data estimates the incremental loss from a ban on international portfolio diversification to be on the order of 0.20 percent of output per year. Even the theoretical gains from asset trade may disappear under alternative sets of assumptions on preferences and technology. The paper argues that the small magnitude of potential trade gains may help explain the apparently inconsistent findings of empirical studies on the degree of international capital mobility. ## Keywords Economics, Diversification (marketing strategy), General equilibrium theory, Portfolio, Asset (computer security), Commodity, Econometrics, Microeconomics, International trade, Financial economics, Finance ## Concepts - Economics - Diversification (marketing strategy) - General equilibrium theory - Portfolio - Asset (computer security) - Commodity - Econometrics - Microeconomics - International trade - Financial economics - Finance - Computer science - Business - Marketing - Computer security --- *Metadata only — full text not imported unless Open Access license permits.*

Bài “Commodity trade and international risk sharing” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex. Tóm lược học thuật (đã diễn giải): This paper evaluates the social gains from international risk sharing in some simple general-equilibrium models with output uncertainty. A simulation model calibrated to selected moments of U.S. and Japanese data estimates the incremental loss from a ban on international portfolio diversification to be on the order of 0.20 percent of output per year. Even the theoretical gains from asset trade may disappear under alternative sets of assumptions on preferences and technology. The paper argues that the small magnitude of potential trade gains may help explain the apparently inconsistent findings of empirical studies on the degree of international capital mobility. Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook. Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.