Balli, Faruk; Pericoli, F.M.; Pierucci, E. - Crawford School of Public Policy, Australian National … - 2015
British Household Panel Survey (BHPS) data concludes that the bulk of risk-sharing in the UK is driven by the savings channel … extent of smoothing achieved through financial markets. We also analyze the issue of risk-sharing by income, education levels … and by region. We find that risk-sharing is more effective (higher) for individuals whose savings are more flexible, while …