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| Author: | Kalemli-Ozcan, S. Sorensen, B.E. Yosha, O. |
| Title: | Risk sharing and industrial specialization: regional and international evidence |
| Journal: | American Economic Review
2003 : JUN, VOL. 93:3, p. 903-918 |
| Index terms: | Industrial relations Risk sharing Specialization |
| Language: | eng |
| Abstract: | It has been stated that with uninsured production risk, the higher variance of gross domestic product (GDP) resulting from specialized output may entail a welfare loss that outweights those benefits. The authors of this article have undertaken the task of demonstrating empirically that more insurance is associated with higher specialization. |
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