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| Author: | Becker, S.O. Hoffmann, M. |
| Title: | Intra- and international risk-sharing in the short run and the long run |
| Journal: | European Economic Review
2006 : APR, VOL. 50:3, p. 777-806 |
| Index terms: | bias business cycles economics risk risk sharing |
| Language: | eng |
| Abstract: | This article examines consumption risk sharing in both industrialized countries and US states. The authors include both the short and the long run estimations in their investigations, with horizons between 1 to 30 years. The findings indicate that US federal states share about 50% of their permanent idiosyncratic risk using cross-state capital income flows, while OECD countries do not share any of their permanent idiosyncratic risk. |
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