HAL will be down for maintenance from Friday, June 10 at 4pm through Monday, June 13 at 9am. More information
Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Interregional and International Risk Sharing and Lessons for EMU

Abstract : How much risk sharing takes place between regions within countries, between countries internationally, and what are the lessons for EMU? We study these questions based on regional data from the US, Canada, the UK and Italy, and national data from an international sample of 23 OECD countries, including all 15 EU members, and do so with the aid of a modified version of a model by Asdrubali, Sørensen and Yosha. In conclusion, we find that even though the surrender of monetary policy will reduce the capacity of the members of EMU to smooth shocks via macroeconomic policy, the regime will promote smoothing of shocks via market channels.
Document type :
Preprints, Working Papers, ...
Complete list of metadata

Cited literature [23 references]  Display  Hide  Download

https://hal-sciencespo.archives-ouvertes.fr/hal-01064863
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Wednesday, September 17, 2014 - 12:28:41 PM
Last modification on : Thursday, May 26, 2022 - 3:57:49 AM
Long-term archiving on: : Thursday, December 18, 2014 - 10:56:47 AM

File

cfi-wp-fz-cepr2154.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : hal-01064863, version 1
  • SCIENCESPO : 2441/765

Collections

Citation

Jacques Mélitz, Frédéric Zumer. Interregional and International Risk Sharing and Lessons for EMU. 1999. ⟨hal-01064863⟩

Share

Metrics

Record views

69

Files downloads

593