This paper examines how bilateral economic linkages shape consumption synchronization across economies. Using state-level data from the US, we find that the degree of bilateral consumption risk sharing decreases with geographic distance. To explain this novel fact, we develop an open economy...

This paper analyzes the household's off-farm labor response to risk using the Research Center on the Rural Economy (RCRE) panel data in China. This paper aims to find out whether the off-farm labor market, especially the migrant labor market, could be used as a means of coping with risk and...