Hidden Bibliographic Details
| Other authors / contributors: | Marion, Nancy Peregrim, author.
Matsumoto, Akito, author.
International Monetary Fund.
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| ISBN: | 1462371906
9781462371907
1282844156
9781282844155
9786612844157
6612844159
1452771251
9781452771250
1451873565
9781451873566
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| Digital file characteristics: | text file
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| Notes: | Includes bibliographical references (pages 36-38).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Though theory suggests financial globalization should improve international risk sharing, empirical support has been limited. We develop a simple welfare-based measure that captures how far countries are from the ideal of perfect risk sharing. We then take it to data and find international risk sharing has, indeed, improved during globalization. Improved risk sharing comes mostly from the convergence in rates of consumption growth among countries rather than from synchronization of consumption at the business cycle frequency. Our finding explains why many existing measures fail to detect improved risk sharing-they focus only on risk sharing at the business cycle frequency.
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| Other form: | Print version: Flood, Robert P. International risk sharing during the globalization era. [Washington, D.C.] : International Monetary Fund, ©2009
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