Title: Risk sharing in Europe
Authors: PONCELA BLANCO MARIA DEL PILARPERICOLI FILIPPOMANCA ANNA RITANARDO Michela
Publisher: Publications Office of the European Union
Publication Year: 2016
JRC N°: JRC104621
ISBN: 978-92-79-64429-0
ISSN: 1831-9424
Other Identifiers: EUR 28284 EN
OP LF-NA-28284-EN-N
URI: http://publications.jrc.ec.europa.eu/repository/handle/JRC104621
DOI: 10.2791/174718
Type: EUR - Scientific and Technical Research Reports
Abstract: We analyse if consumption can be internationally detached from GDP domestic shocks due to cross border risk sharing mechanisms. We update the measurement of risk sharing for industrialized OECD countries and for several subsets of European ones. We use panel VAR models to capture the dynamic behaviour of cross border consumption smoothing through the capital markets, government and credit market channels. We also check for the substitutability among channels. Finally, we track the evolution of risk sharing over time for each channel.
JRC Directorate:Growth and Innovation

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