Series: IMF Working Papers
Author(s): Akito Matsumoto , Robert Flood , and Nancy Marion
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2009
Keywords: International risk sharing, incomplete market, risk sharing, emerging markets, private consumption, income growth, Macroeconomic Aspects Of International Trade And Finance, Saving, Production, Employment
Though theory suggests financial globalization should improve international risk sharing, empirical support has been limited. We develop a simple welfare-based measure that captures how far countries are from the i...