scholarly journals Consumption Risk Sharing with Private Information and Limited Enforcement

2015 ◽  
Author(s):  
Tobias Broer ◽  
Marek Kapicka ◽  
Paul Klein
Keyword(s):  
Private Information ◽  
Risk Sharing ◽  
Limited Enforcement ◽  
Consumption Risk

scholarly journals Consumption risk sharing with private information and limited enforcement

2017 ◽  
Vol 23 ◽  
pp. 170-190 ◽  
Author(s):  
Tobias Broer ◽  
Marek Kapička ◽  
Paul Klein
Keyword(s):  
Private Information ◽  
Risk Sharing ◽  
Limited Enforcement ◽  
Consumption Risk

scholarly journals Banks, Financial Markets and International Consumption Risk Sharing

2012 ◽  
Vol 13 (3) ◽  
pp. 331-351 ◽  
Author(s):  
Markus Leibrecht ◽  
Johann Scharler
Keyword(s):  
Financial Markets ◽  
Risk Sharing ◽  
Banking Sector ◽  
Financial System ◽  
International Diversification ◽  
Oecd Countries ◽  
Idiosyncratic Risk ◽  
Per Se ◽  
Consumption Risk

Abstract In this article, we explore how characteristics of the domestic financial system influence the international allocation of consumption risk in a sample of OECD countries. Our results show that the extent of risk sharing achieved does not depend on the overall development of the domestic financial system per se. Rather, it depends on how the financial system is organized. Countries characterized by developed financial markets are less exposed to idiosyncratic risk, whereas the development of the banking sector contributes little to the international diversification of consumption risk.

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