International Risk Sharing and European Monetary Unification
Bent Sorensen and
Working Papers from Tel Aviv
We explore risk sharing patterns among European Community (EC) countries and among OECD countries during the period 1966-90. We find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at the one year frequency, with about half the smoothing achieved through national government budget deficits and half by corporate saving.
Keywords: EUROPE; RISK; INTERNATIONAL MONETARY SYSTEM (search for similar items in EconPapers)
JEL-codes: F33 D81 (search for similar items in EconPapers)
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Journal Article: International risk sharing and European monetary unification (1998)
Working Paper: International Risk Sharing and European Monetary Unification (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:teavfo:40-96
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