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dc.contributor.authorBlanchard, Michel
dc.contributor.authorPeltrault, Frédéric
dc.date.accessioned2009-05-19T12:25:43Z
dc.date.available2009-05-19T12:25:43Z
dc.date.issued2003
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/134
dc.language.isoenen
dc.subjectidiosyncratic risken
dc.subjectinferior tradeen
dc.subjectInternational tradeen
dc.subjectrisk-aversionen
dc.subject.ddc337en
dc.subject.classificationjelF10en
dc.subject.classificationjelF13en
dc.titleShould Risk Averse Countries be Trade Averse?en
dc.typeCommunication / Conférence
dc.description.abstractenTaking seriously the stylized fact that some countries are more risk averse than others regarding business activities, we examine the consequences on international trade and welfare. When risk is idiosyncratic to each manager's project, international differences in manager's risk-aversion distribution become the determinant of trade pattern. Welfare analysis shows that the less risk averse country specialized in the risky commodity is always better off with free trade. But the more risk averse country specialized in unrisky commodity can be worse off. Consequently, risk averse countries can be "trade averse". Moreover, the world's welfare is sometimes decreasing.en
dc.identifier.citationpages18en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelEconomie internationaleen
dc.relation.conftitleEUROPEAN TRADE STUDY GROUPen
dc.relation.confdate2003-09
dc.relation.confcityMadriden
dc.relation.confcountryEspagneen


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