We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a … all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union.Institutional subscribers to the NBER working …

Much of empirical corporate finance focuses on sources of the demand for various forms of capital, not the supply …. Recently, this has changed. Supply effects of equity and credit markets can arise from a combination of three ingredients … come from either supply or demand. This framework helps to organize empirical approaches that more precisely identify and …

We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a … all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union …