Risk-sharing among European Countries
This technical report details the results of risk sharing in the EU country by country. The great recession and the subsequent sovereign debt crisis in Europe have shown an asymmetric behavior of the different member countries of the EU, also with regards of risk sharing. We provide country specific measures decomposing risk sharing as that obtained via the capital markets, international transfers and savings or the credit markets channel. Afterwords, we use a mean group estimator to measure average risk sharing for the group of countries. This can help to identify where risk sharing is working and through which channels.
NARDO Michela;
PERICOLI Filippo;
PONCELA BLANCO Maria Del Pilar;
2018-01-17
Publications Office of the European Union
JRC109598
978-92-79-77063-0,
1831-9424,
EUR 28934 EN,
OP KJ-NA-28934-EN-N,
https://publications.jrc.ec.europa.eu/repository/handle/JRC109598,
10.2760/028526,
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