| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16178 |
| DP16178 Risk Sharing in Currency Unions: The Migration Channel | |
| Wilhelm Kohler; Gernot Müller; Susanne Wellmann | |
| 发表日期 | 2021-05-21 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | International risk sharing insulates consumption from country-specific business-cycle fluctuations. This matters for countries in currency unions who lack monetary autonomy. In the spirit of Mundell, we formally integrate migration as a distinct channel into the standard framework used to quantify risk sharing. Comparing the euro area and the US we find that migration contributes significantly to risk sharing across US states, but not across the euro area. We also present survey evidence showing that migration rates are about 20 times higher in the US. The overall amount of risk sharing in the US is higher by a factor of two. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Risk sharing Currency unions Labour migration Migration rates Euro area |
| URL | https://cepr.org/publications/dp16178 |
| 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/545150 |
| 推荐引用方式 GB/T 7714 | Wilhelm Kohler,Gernot Müller,Susanne Wellmann. DP16178 Risk Sharing in Currency Unions: The Migration Channel. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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