The channels of consumption risk-sharing in Korea

Sangyeon Hwang

Applied Economics Letters, 2021, vol. 28, issue 8, 707-711

Abstract: This study investigates intranational risk-sharing behaviour in Korea’s 16 province-level regions over the period 2001–2017. Korea’s degree of intranational risk-sharing is at an almost perfect level. However, the extent of risk-sharing declines in the period following the subprime crisis. We also find that risk-sharing through the factor markets works well for metropolitan cities while the degree of risk-sharing is much higher for provinces through the fiscal channel and the credit markets.

Date: 2021
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DOI: 10.1080/13504851.2020.1771267

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