scholarly journals Consumption Risk-sharing within Australia and with New Zealand

2005 ◽  
Author(s):  
David Kim ◽  
Jeffrey Sheen
2007 ◽  
Vol 83 (260) ◽  
pp. 46-59 ◽  
Author(s):  
DAVID KIM ◽  
JEFFREY SHEEN

2012 ◽  
Vol 13 (3) ◽  
pp. 331-351 ◽  
Author(s):  
Markus Leibrecht ◽  
Johann Scharler

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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