worth, the evaporation of liquidity and rising risk premia are the key channels through which geopolitical uncertainty …

We argue that since there are several impediments to international risk sharing, the welfare gains from full … international risk sharing, which have been the object of analysis in the previous literature, are not suggestive. Instead, we study … the gains from feasible risk sharing and find that they are considerable (0:5% increase inpermanent consumption). Marginal …

is negative in all countries except Canada (where it is positive) in the case of bond flows. Under the assumption of risk …

American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption … risk sharing in tranquil times but that it actually fails to provide international insurance in severe crisis periods …

and thus on the extent of risk sharing across member states. The literature to date has focused on financial and credit … markets as well as on transfer schemes as channels of risk sharing. In this paper, we show how the standard approach to … quantify risk sharing can be extended to account for migration as an additional channel of cross-country risk sharing. In …

daily S&P500, the US Treasury Bond Index (USTB), the S&P Green Bond Index (GREEN) and the Dow Jones (DJ) Islamic World …

We investigate empirically how industrialized countries and U.S. states share consumption risk at horizons between one … and thirty years. U.S. federal states share about 50 percent of their permanent idiosyncratic risk through cross … share any of their permanent idiosyncratic risk. Our results suggest that purely transaction cost based theories cannot …