| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9541 |
| DP9541 Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns | |
| Bent E Sørensen; Sebnem Kalemli-Ozcan | |
| 发表日期 | 2013-07-07 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Using a variance decomposition of shocks to GDP, we quantify the role of international factor income, international transfers, and saving in achieving risk sharing during the recent European crisis. We focus on the sub-periods 1990--2007, 2008--2009, and 2010 and consider separately the European countries hit by the sovereign debt crisis in 2010. We decompose risk sharing from saving into contributions from government and private saving and show that fiscal austerity programs played an important role in hindering risk sharing during the sovereign debt crisis. |
| 主题 | International Macroeconomics |
| 关键词 | Capital markets Income insurance International financial integration |
| URL | https://cepr.org/publications/dp9541 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538377 |
| 推荐引用方式 GB/T 7714 | Bent E Sørensen,Sebnem Kalemli-Ozcan. DP9541 Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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