Risk Sharing in the EMU
A Time‐Varying Perspective
Bibliographic Data
| ID | 6282332 |
|---|---|
| Authors | Pasquale Foresti (0000-0001-8817-5099, University of Roehampton London London, corresponding author), Oreste Napolitano (0000-0001-6758-9823, University of Naples Parthenope Naples) |
| Year | 2022 |
| Volume | 60 |
| Issue | 2 |
| Pages | 319-336 |
| Publication date | 2022-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | JCMS Journal of Common Market Studies (JOURNAL) |
| Journal identifiers | ISSN: 0021-9886 • E-ISSN: 1468-5965 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/jcms.13217 |
| OpenAlex | W3184154572 |
| Language | EN |
| Citations received | 2 |
| References cited | 21 |
The development of effective risk sharing mechanisms is one of the main passages for the success and longevity of a monetary union. In this paper, we study risk sharing, measured as income and consumption smoothing, in the EMU. As we employ time‐varying estimations, we are able to retrieve time patterns of risk sharing for each member country and to compare them with the degree of economic asymmetry within the EMU. Other than documenting the need for stronger risk sharing mechanisms in the EMU, our results also suggest that much more attention should be dedicated to fostering homogeneity in risk sharing across member countries. We document the existence of increasing heterogeneity in the risk sharing capacity between member countries that can potentially exacerbate and amplify the impact of asymmetric shocks and further destabilize the EMU
Consumption (sociology · Consumption smoothing · Economics · European union · International economics · Macroeconomics · Member states · Monetary economics · Unemployment · Banking stability, regulation, efficiency · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
The Political Economy of Monetary Solidarity
Characterizing Cross-Country Consumption Correlations
Risk Sharing in Europe
Does financial globalization promote risk sharing
What Can Explain the Apparent Lack of International Consumption Risk Sharing
Specialization, Risk Sharing and the Euro
Optimum Currency Areas and Key Currencies
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,67 |
| Citation span | 2023 - 2024 (2) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 2 |