Banks, Financial Markets and International Consumption Risk Sharing
2012 ◽
Vol 13
(3)
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pp. 331-351
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Keyword(s):
Per Se
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Abstract In this article, we explore how characteristics of the domestic financial system influence the international allocation of consumption risk in a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the domestic financial system per se. Rather, it depends on how the financial system is organized. Countries characterized by developed financial markets are less exposed to idiosyncratic risk, whereas the development of the banking sector contributes little to the international diversification of consumption risk.
2019 ◽
Vol 30
(2)
◽
pp. 5-19
Keyword(s):
2001 ◽
Vol 40
(4II)
◽
pp. 605-632
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2015 ◽
Vol 2
(2)
◽
pp. 0-0
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2020 ◽
Vol 15
(2)
◽
pp. 173-190
2015 ◽
Vol 5
(2)
◽
pp. 189
Keyword(s):
2016 ◽
Vol 4
(2)
◽
pp. 7-17
2021 ◽
Vol ahead-of-print
(ahead-of-print)
◽
Keyword(s):