Ambiguity, ambiguity aversion and stores of value: The case of Argentina
We study the household portfolio allocation in an economy with a history of nominal anchor volatility. Applying smooth ambiguity preferences to a static portfolio choice problem, we rationalize two facts about the Argentine experience of the last 20 years: the dollarization of household financial as...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2014-12-01
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| Series: | Cogent Economics & Finance |
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| Online Access: | http://dx.doi.org/10.1080/23322039.2014.947001 |