Citation

Discussion Paper Details

Please find the details for DP8643 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Risk Sharing through Capital Gains

Author(s): Faruk Balli, Sebnem Kalemli-Ozcan and Bent E Sørensen

Publication Date: November 2011

Keyword(s): capital markets, income insurance and international financial integration

Programme Area(s): International Macroeconomics

Abstract: We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing through factor income and capital gains was close to zero before 1999 but has increased since then. Risk sharing from capital gains, at about 6 percent, is higher than risk sharing from factor income flows for European Union countries and OECD countries. Risk sharing from factor income flows is higher for Euro zone countries, at 14 percent, reflecting increased international asset and liability holdings in the Euro area.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8643

Bibliographic Reference

Balli, F, Kalemli-Ozcan, S and Sørensen, B. 2011. 'Risk Sharing through Capital Gains'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8643