This note analyzes consumption risk sharing among the EU-15 countries. It is found that the reaction of consumption growth rates to idiosyncratic income growth is too sensitive to be consistent with perfect risk sharing. Some evidence is presented in favor the hypothesis that institutional and...

Panel data is used to investigate the extent of R and D spillovers between OECD countries, and the importance of barriers to technology adoption in affecting the benefits of such spillovers. Our results indicate that countries with less regulated goods and labour markets benefit more from...

Panel data is used to investigate the extent of R and D spillovers between OECD countries, and the importance of barriers to technology adoption in affecting the benefits of such spillovers. Our results indicate that countries with less regulated goods and labour markets benefit more from...

This note analyzes consumption risk sharing among the EU-15 countries. It is found that the reaction of consumption growth rates to idiosyncratic income growth is too sensitive to be consistent with perfect risk sharing. Some evidence is presented in favor the hypothesis that institutional and...