Asdrubali, Pierfederico; Kim, Soyoung - Institute of Economic Research, Korea University - 2007
incomplete intertemporal smoothing, and couch the two mechanisms in a unified framework. Second, we fully exploit simple panel … data analysis in order to measure degrees of both risksharing and intertemporal smoothing taking place in a given set of … to absorb output shocks mostly through intertemporal smoothing. About 25% of all temporary shocks are smoothed this way …