decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent first-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …

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 …

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … through financial markets when enforcement is based on the threat of exclusion from future trading as well as on costly …

the denominator of the calculation of risk-weighted assets (RWAs). The EBA and other international bodies have already … Internal Market risk Models, leading to a greater understanding of the consistency of risk-weighted assets .European … legislators have acknowledged the need to constrain the inconsistent calculation of risk-weighted assets for equivalent portfolios …