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 …

across aggregate equity, fixed income and exchange rates over the period 2007-2020. We show how the factor structure of asset … asset portfolios, with a particular focus on the volatility of these portfolios and their systematic risk exposure …. Interestingly, the ability to diversify country asset-specific risk and hedge systematic risk is greatly reduced during the peak of …