Kalemli-Ozcan, S.; Sorensen, B.E.; Yosha, O. - Foerder Institute for Economic Research, Eitan Berglas … - 1999
We provide empirical evidence that risk sharing enhances specialization in production. To the best of our knowledge … integration (a measure of risk sharing) within each of these groups of regions: The EC countries, the non-EC OECD countries, the …). Finally, we perform a regression of the specialization index on the degree of risk sharing, controlling for relevant economic …