-periphery relations in the EU. The article finds that the most important factor in all three instruments is risk-sharing between member …

This article surveys the literature on consumption risk sharing, focusing on the findings for the euro area and for the … United States, but also presenting evidence for other countries. The literature examined found that risk sharing is higher in … the same time, our analysis of the response to the COVID-19 crisis indicates that risk sharing in the euro area has been …