Bengui, Julien; Mendoza, Enrique G.; Quadrini, Vincenzo - In: Journal of Monetary Economics 60 (2013) 1, pp. 42-62
This paper investigates whether the international globalization of financial markets allows for significant cross-country risk-sharing at the business cycle frequency. We find that cross-country risk-sharing is still limited and this is unlikely to be the result of financial frictions that limit...