The paper discusses the limits to market-based risk transfer in the financial system and the implications for the … markets as part of governments'' role as a risk manager …

risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different … a variety of empirical techniques, we conclude that there is at best a modest degree of international risk sharing, and … certainly nowhere near the levels predicted by theory. In addition, only industrial countries have attained better risk sharing …

risk management. The paper draws on findings from the IMF Article IV Database, selected FSAP and country cases, and gives …-related risks for central banks should be addressed by operationalizing sound internal risk management by establishing and … strengthening an integrated risk management approach throughout the organization, including a dedicated risk management unit …

procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have …