Author： Pierucci Eleonora Ventura Luigi
Publisher： Springer Publishing Company
ISSN： 0923-7992
Source： Open Economies Review, Vol.21, Iss.5, 2010-11, pp. : 705-730
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Abstract
We suggest, by means of integration and cointegration tools, and error correction model regressions, that international risk sharing is predominantly a short run concern. This finding has been obtained by using some new variants of the standard consumption insurance tests, and runs counter to some other recent empirical evidence. Moreover, we find mixed evidence as to the fact that the recent surge in international financial liberalization has improved on risk sharing, at least in the long run.
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