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Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing

Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing,Pierfederico Asdrubali,Soyoung Kim

Incomplete Intertemporal Consumption Smoothing and Incomplete Risksharing   (Citations: 4)
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This paper develops a method to estimate jointly the degree of intertemporal consumption smoothing and the degree of ¡±interregional¡± risksharing. The empirical results for the US states and OECD and EU countries suggest that: 1) regardless of the assumption on the degree of intertemporal consumption smoothing, the degree of risksharing within a country is larger than across countries; 2) the degree of intertemporal consumption smoothing within a country is also larger than across countries; 3) The difference between the degree of intertemporal consumption smoothing within US states and across OECD and EU countries is as large as the difference between the degree of risksharing, contrary to the findings of some past studies.
Published in 2007.
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    Anna Lo Prete. NATIONAL INSTITUTIONS AND INTERNATIONAL MACROECONOMICS: Within-Country...

    • ...index. The broader one, the so-called version 2, describes EPL along 18 basic items, grouped in three main categories: employment protection for regular contracts (8); regulations of temporary contracts (6); and speci…c requirements for...

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