protection provision in the developing world. It does not attempt to provide an exhaustive or in depth analysis, but rather aims …

international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …

Many people in Europe do not receive the social benefits to which they are entitled. This is the case across countries …