A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan
Tomoaki Yamada ()
MPRA Paper from University Library of Munich, Germany
In this study, using Japanese household panel data, we analyze how well idiosyncratic income risks are shared by regions. We find that geographic mobility influences individual consumption growth rates, suggesting that complete asset markets fail to exist. We reject the full insurance hypothesis for both urban and rural areas and find that the extent of risk sharing differs significantly by region.
Keywords: Risk sharing; Consumption insurance; Geographic mobility (search for similar items in EconPapers)
JEL-codes: D12 D31 E21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ias, nep-mac and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:54886
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