Is Risk Sharing in the United States A Regional Phenomenon ?

  title={Is Risk Sharing in the United States A Regional Phenomenon ?},
  author={B. Sorensen and Oved Yosha},
R egions within the United States routinely experience economic fluctuations that differ from those of other regions. For example, in the past few years, falling wheat prices have slowed growth in the value of total output in Kansas. Such developments can pose concerns for policymakers because macroeconomic tools like monetary policy affect all regions, not just specific regions. Fortunately, several mechanisms help insulate regional income and consumption from region-specific output… CONTINUE READING

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