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| Author: | Borge, L-E. Matsen, E. |
| Title: | Public employment and regional risk sharing |
| Journal: | Scandinavian Journal of Economics
2004 : VOL. 106:2, p. 215-230 |
| Index terms: | Employment Integration Public sector Regional development Risk Norway |
| Language: | eng |
| Abstract: | An empirical analysis of regional risk sharing in Norway is provided over the period 1977-90. The approach of Asdrubali, Sorensen and Yosha (1996) is extended to take public employment into account as a possible shock absorber. The other channels of risk sharing are capital markets and commuting, taxes and transfers and credit markets. The estimated degree of regional consumption insurance is very high. The hypothesis that there is full interregional risk sharing in the short term can not be rejected. Public employment absorbs up to 25% of private sector output shocks in the analyses. |
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