Risk Sharing through Capital Gains / Faruk Balli, Sebnem Kalemli-Ozcan, Bent Sorensen.

Format:

Book

Author/Creator:

Balli, Faruk.

Contributor:

National Bureau of Economic Research.

Kalemli-Ozcan, Sebnem.

Sorensen, Bent.

Series:

Working Paper Series (National Bureau of Economic Research) no. w17612.

NBER working paper series no. w17612

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2011.

Summary:

We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries 1992-2007. 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 percent, 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 percent, reflecting increased international asset and liability holdings in the Euro area.

Notes:

Print version record

November 2011.