haku: @author Yosha, O. / yhteensä: 10
viite: 7 / 10
| Tekijä: | Soerensen, B. Yosha, O. |
| Otsikko: | International risk sharing and European monetary unification |
| Lehti: | Journal of International Economics
1998 : AUG, VOL. 45:2, p. 211-238 |
| Asiasana: | ECONOMICS INTERNATIONAL RISK |
| Kieli: | eng |
| Tiivistelmä: | The authors explore income and consumption smoothing patterns among European Community (EC) countries and among OECD countries during the period 1966-90. The authors find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at the one year frequency, with about half the smoothing achieved through national government budget deficits and half by corporate saving. At the three year differencing frequency only 25 percent of shocks to GDP are smoothed, mainly via government lending and borrowing. |
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