Ng, Thiam Hee; Yarcia, Damaris Lee - 2014
the degree of risk-sharing in East Asia has improved along with the observed rise in integration in the region. Higher … risk-sharing is expected to result in (i) higher intraregional correlation of consumption across time and relative to … output, and (ii) a higher residual in the panel regression of consumption on output. The results show that risk-sharing …