Abstract
dc:description.abstract(cont.) Risk Management have begun implementing strategies to provide commodity price and weather insurance in the developing world. In Chapter 3 (joint with Professor Rob Townsend from the University of Chicago), we examine how shocks to the price of rubber, an important but volatile Thai export commodity, affect the income, consumption and intra-household remittances of rural Thai households. In contrast to related work on rainfall shocks, we find rubber price innovations are not well insured or smoothed--remittances, borrowing and saving play only small roles in ameliorating the effect of these shocks on the consumption of affected households. We argue that differences in the relative persistence of the two types of shocks provide a plausible reason for these divergent findings, drawing on the literature on buffer stock models of consumption behavior and risk sharing with limited commitment.
Degree
thesis:*- Department dc:contributor.department
- Massachusetts Institute of Technology. Dept. of Economics.
- Grantor dc:publisher
- Massachusetts Institute of Technology
- Year dc:date.issued
- 2004
Author and committee
dc:creator, dc:contributor.*- Author dc:creator
-
- Vickery, James Ian, 1974-
- Advisor dc:contributor.advisor
-
- Ricardo Caballero.
Subjects
dc:subject × 1Rights
dc:rights- Statement dc:rights
-
- M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
- Licence dc:rights.uri
- Language dc:language.iso
- en_US
Identifiers
dc:identifier.*- Handle dc:identifier.uri
- http://hdl.handle.net/1721.1/28821
- OAI identifier oai:identifier
- oai:dspace.mit.edu:1721.1/28821