With a little help from my friends? Social links and economic outcomes

Margherita Comola, Marcel Fafchamps 04 November 2014

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From its very beginning, network theory has emphasised that different link formation rules result in fundamentally different network structures (Bala and Goyal 2000). This in turn may have dramatic implications for the way resources are allocated across the network. Yet we know very little about the data generation process behind the links we observe in the data.

In our new paper, we propose a testing methodology to shed light on the interpretation of self-reported link data in relation to the two key issues (Comola and Fafchamps 2014).

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Topics:  Frontiers of economic research

Tags:  social networks, network formation, Risk sharing, knowledge diffusion, networks

Don't expect too much from EZ fiscal union – and complete the unfinished integration of European capital markets!

Mathias Hoffmann, Bent E. Sørensen 09 November 2012

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The sovereign debt crisis apparently suggests that Eurozone economies should now move substantially closer towards fiscal union. Current policy discussions revolve much more around how such a fiscal union should be designed than whether fiscal union can solve Europe’s underlying problems of economic coherence. What can we expect from a fiscal union? Aren't private capital markets better suited to economic coherence?

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Topics:  EU policies International finance Monetary policy

Tags:  capital markets, risk, Risk sharing, Eurozone crisis, fiscal union, banking union

Do capital gains on international portfolios have risk sharing benefits? Evidence from Europe

Sebnem Kalemli-Ozcan, Bent E. Sørensen 23 May 2012

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A common currency and harmonised financial regulation has led to increased financial integration in Europe which, according to standard theory, should lead to increased risk sharing, i.e. income and consumption smoothing in the face of country-specific shocks. Shocks that hit all countries at the same time cannot be smoothed through integrated financial markets but the impact of country-specific shocks will be diluted if ownership of production units is spread over many countries.

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Topics:  Europe's nations and regions Financial markets International finance

Tags:  financial integration, Risk sharing, Eurozone crisis, international portfolios

Incentive and insurance effects of tax financed unemployment insurance

Torben M. Andersen,

Date Published

Mon, 09/27/2010

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Europe's nations and regions Labour markets Taxation Welfare state and social Europe

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Financial globalisation has improved international risk sharing

Robert Flood, Akito Matsumoto, Nancy P. Marion 12 January 2010

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Sharing risk is basic to market economies. Many institutions, such as insurance companies and equity and derivatives markets, are designed to spread risk. Indications are that markets are pretty good at spreading risk within countries.

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Topics:  Global economy

Tags:  consumption, financial globalisation, Risk sharing

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