Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing

Pierfederico Asdrubali and Soyoung Kim

No 725, Discussion Paper Series from Institute of Economic Research, Korea University

Abstract: This paper develops a method to estimate jointly the degree of intertemporal consumption smoothing and the degree of ¡±interregional¡± risksharing. The empirical results for the US states and OECD and EU countries suggest that: 1) regardless of the assumption on the degree of intertemporal consumption smoothing, the degree of risksharing within a country is larger than across countries; 2) the degree of intertemporal consumption smoothing within a country is also larger than across countries; 3) The difference between the degree of intertemporal consumption smoothing within US states and across OECD and EU countries is as large as the difference between the degree of risksharing, contrary to the findings of some past studies.

Keywords: intertemporal consumption smoothing; risksharing; channels of risksharing; international vs. intranational (search for similar items in EconPapers)
JEL-codes: E21 F36 F41 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2007
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://econ.korea.ac.kr/~ri/WorkingPapers/w0725.pdf (application/pdf)

Related works:
Journal Article: Incomplete Intertemporal Consumption Smoothing and Incomplete Risk Sharing (2008)
Journal Article: Incomplete Intertemporal Consumption Smoothing and Incomplete Risk Sharing (2008)
Working Paper: Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iek:wpaper:0725

Access Statistics for this paper

More papers in Discussion Paper Series from Institute of Economic Research, Korea University Contact information at EDIRC.
Bibliographic data for series maintained by Kim, Jisoo ().