Publication: Risk sharing through capital gains
Program
KU-Authors
KU Authors
Co-Authors
Ballı, Faruk
Sørensen, Bent E.
Publication Date
Language
Type
Embargo Status
Journal Title
Journal ISSN
Volume Title
Alternative Title
Abstract
We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries, 19922007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing through factor income and capital gains was close to zero before 1999 but has increased since then. Risk sharing from capital gains, at about 6%, is higher than risk sharing from factor income flows for European Union countries and OECD countries. Risk sharing from factor income flows is higher for euro zone countries, at 14%, reflecting increased international asset and liability holdings in the euro area.
Source
Publisher
Wiley
Subject
Economics
Citation
Has Part
Source
Canadian Journal of Economics / Revue canadienne d'économique
Book Series Title
Edition
DOI
10.1111/j.1540-5982.2012.01702.x