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NATIONAL BUREAU OF ECONOMIC RESEARCH
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Chase Coleman

Stern School of Business
New York University

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Institutional Affiliation: New York University

NBER Working Papers and Publications

December 2015Pareto Weights as Wedges in Two-Country Models
with David Backus, Axelle Ferriere, Spencer Lyon: w21773
In models with recursive preferences, endogenous variation in Pareto weights would be interpreted as wedges from the perspective of a frictionless model with additive preferences. We describe the behavior of the (relative) Pareto weight in a two-country world and explore its interaction with consumption and the real exchange rate.

Published: David Backus & Chase Coleman & Axelle Ferriere & Spencer Lyon, 2016. "Pareto weights as wedges in two-country models," Journal of Economic Dynamics and Control, . citation courtesy of

 
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