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Welfare effects of financial integration

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Welfare effects of financial integration

Fecht, Falko (contributor); Grüner, Hans Peter (contributor) - 2007

This paper compares four forms of inter-regional financial risk sharing: (i) segmentation, (ii) integration trough the secured interbank market, (iii) integration trough the unsecured interbank market, (iv) integration of retail markets. The secured interbank market is an optimal risk-sharing...