How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes

How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes
Economic activity is risky. Returns across economic sectors can be highly variable, potentially causing costly adjustments to consumption. However, when returns are imperfectly correlated across sectors and insurance is unavailable, diversification can reduce the economic impact of shocks. Therefore, despite the well-known efficiency benefits... READ MORE...

Publication date: March 2005
ISBN 9781451860672
$15.00

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