Interregional and International Risk Sharing and Lessons for EMU

  title={Interregional and International Risk Sharing and Lessons for EMU},
  author={Jacques M{\'e}litz and Fr{\'e}d{\'e}ric Zumer},
Interregional and International Risk Sharing and Lessons for EMU* How much risk sharing takes place between regions within countries, between countries internationally, and what are the lessons for EMU? We study these questions based on regional data from the US, Canada, the UK and Italy, and national data from an international sample of 23 OECD countries, including all 15 EU members, and do so with the aid of a modified version of a model by Asdrubali, Sørensen and Yosha. In conclusion, we… CONTINUE READING

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