Autore
Ubide, Angel J.

Titolo
Is there consumption risk sharing in the EEC?
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1994 - Fascicolo: 37 - Pagina iniziale: 1 - Pagina finale: 54

There is a debate about the degree of consumption risk sharing existing in the EEC, and about whether the EEC should provide some specific insurance schemes. This paper introduces and develops theoretically the concept of international consumption risk sharing and presents some empirical evidence with respect to external and idiosyncratic variables in static and dynamic frameworks. We find that, although there are substantial differences across countries, the level of risk sharing is quite high in the EEC and no further institutional agreements seem to be needed in order to implement first best allocations.



Testo completo: http://hdl.handle.net/1814/516

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