search query: @indexterm risk sharing / total: 46
reference: 7 / 46
| Author: | Artis, M.J. Hoffmann, M. |
| Title: | Financial globalization, international business cycles and consumption risk sharing |
| Journal: | Scandinavian Journal of Economics
2008 : VOL. 110:3, p. 447-471 |
| Index terms: | business cycles consumption globalization international business risk sharing |
| Language: | eng |
| Abstract: | Despite twenty years of financial globalization, consumption-based indicators do not seem to signal more international risk sharing. It is argued here that the fraction of idiosyncratic consumption risk that gets shared among industrialized countries has actually increased considerably over the period 1980-2000, particularly during the 1990s, from around 30% to more than 60%. However, standard consumption-based measures of risk sharing have been unable to detect this increase because consumption has also been affected by the concurrent decline in the volatility of output growth in most industrialized countries since the 1980s. |
SCIMA