Why do stocks and consumption imply such different gains from international risk sharing

By K. Lewis. 2000

130 citations recorded by the source corpus.

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Effects of Financial Globalization on Developing Countries: Some Empirical Evidence (2003, background): “Aggregate consumption of a representative country in this case follows approximately a random walk process with variance ))/11()/1((22 ρσσ NNW −+= (see Lewis (2000)).”
Home bias in open economy financial macroeconomics (2013, unknown): “This point is clearly made by Lewis (2000): she finds that moving from portfolio equity autarky towards an optimally diversified portfolio (efficient frontier in a mean-variance framework with a relative risk aversion of 2 leads to a gain of 10 to 30% of current wealth while moving from autarky…”
Emerging Markets Finance (2003, background): “Lins et al. (2001) test directly whether improved access to capital is an important motivation for emerging market firms to issue an ADR.”
Research in Emerging Markets Finance: Looking to the Future (2002, unknown): “32 See Lewis (1996, 1999, 2000) and Athanasoulis and van Wincoop (2000, 2001) for tests of international risk sharing.”
Diversification Benefits of Emerging Markets Subject to Portfolio Constraints (2003, unknown): “1 For a recent review of the home bias puzzle, we refer readers to Lewis (1999, 2000) .”
Portfolio Choice in a Monetary Open-Economy DSGE Model (2005, unknown): “5 Lewis (1999, 2000) surveys the literature on this puzzle and discusses the losses from nondiversification.”