This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Channels of Interstate Risk Sharing: United States 1963-1990

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Asdrubali, Pierfederico
Sorensen, Bent E
Yosha, Oved

Additional information is available for the following registered author(s):

Abstract

The authors develop a framework for quantifying the amount of risk sharing among states in the United States and construct data that allow them to decompose the cross-sectional variance in gross state product into several components which they refer to as levels of smoothing. They find that 39 percent of shocks to gross state product are smoothed by capital markets, 13 percent are smoothed by the federal government, and 23 percent are smoothed by credit markets. The remaining 25 percent are not smoothed. The authors also decompose the federal government smoothing into subcategories: taxes, transfers, and grants to states. Copyright 1996, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0033-5533%28199611%29111%3A4%3C1081%3ACOIRSU%3E2.0.CO%3B2-I&origin=bc
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by MIT Press in its journal Quarterly Journal of Economics.

Volume (Year): 111 (1996)
Issue (Month): 4 (November)
Pages: 1081-1110
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:tpr:qjecon:v:111:y:1996:i:4:p:1081-1110

Contact details of provider:
Web page: http://mitpress.mit.edu/journals/

Order Information:
Web: http://mitpress.mit.edu/journal-home.tcl?issn=00335533

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Beetsma, Roel & Debrun, Xavier & Klaassen, Frank, 2001. "Is Fiscal Policy Coordination in EMU Desirable?," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  2. Maurice Obstfeld & Kenneth Rogoff, 2000. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," Center for International and Development Economics Research, Working Paper Series 1010, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
    Other versions:
  3. Mathias Hoffmann & Iryna Shcherbakova, 2009. "Consumption Risk Sharing over the Business Cycle: the Role of Small Firms' Access to Credit Markets," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  4. Amador, Joao L. M., 2000. "Fiscal Federalism in Continuous Time Stochastic Economies," FEUNL Working Paper Series wp383, Universidade Nova de Lisboa, Faculdade de Economia. [Downloadable!]
  5. Martin Halla & Johann Scharler, 2008. "Marriage, Divorce and Interstate Risk Sharing," Economics working papers 2008-16, Department of Economics, Johannes Kepler University Linz, Austria. [Downloadable!]
    Other versions:
  6. Yuliya Demyanyk & Charlotte Ostergaard & Bent E. Sørensen, 2006. "FU.S. banking deregulation, small businesses, and interstate insurance of personal income," Working Paper 2006/09, Norges Bank. [Downloadable!]
    Other versions:
  7. Shu-ki Tsang, 2002. "From "One Country, Two Systems" to Monetary Integration?," Working Papers 152002, Hong Kong Institute for Monetary Research. [Downloadable!]
  8. Paul De Grauwe, 2006. "What have we learnt about monetary integration since the Maastricht Treaty?," Working Papers 03-2006, Macerata University, Department of Studies on Economic Development (DiSSE), revised Nov 2008. [Downloadable!]
  9. Pacheco, Luís Miguel, 2000. "Fiscal Federalism, EMU and Shock Absorption Mechanisms: A Guide to the Literature," European Integration online Papers (EIoP), European Community Studies Association Austria (ECSA-A), vol. 4, 03. [Downloadable!]
  10. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2007. "How Does Financial Globalization Affect Risk Sharing? Patterns and Channels," IZA Discussion Papers 2903, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  11. Giuseppe Cavaliere & Luca Fanelli & Attilio Gardini, 2006. "International dynamic risk sharing," Quaderni di Dipartimento 1, Department of Statistics, University of Bologna. [Downloadable!]
    Other versions:
  12. Robert M. Townsend & Jacob Yaron, 2001. "The credit risk-contingency system of an Asian development bank," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q III, pages 31-48. [Downloadable!]
  13. Sanjit Dhami, 2005. "Optimal Distribution Of Powers In A Federation: A Simple, Unified Framework," Discussion Papers in Economics 05/24, Department of Economics, University of Leicester. [Downloadable!]
    Other versions:
  14. Mathias Hoffmann & Thomas Nitschka, 2009. "Securitization of Mortgage Debt, Asset Prices and International Risk Sharing," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  15. Hepp, Ralf & von Hagen, Jürgen, 2009. "Fiscal Federalism in Germany: Stabilization and Redistribution Before and After Unification," CEPR Discussion Papers 7246, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  16. George M. Korniotis & Alok Kumar, 2008. "Do behavioral biases adversely affect the macro-economy?," Finance and Economics Discussion Series 2008-49, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  17. Yishay Yafeh, 2003. "An International Perspective of Corporate Groups and Their Prospects," NBER Chapters, in: Structural Impediments to Growth in Japan, pages 259-284 National Bureau of Economic Research, Inc. [Downloadable!]
  18. Tiago Neves Sequeira & Alexandra Ferreira-Lopes, 2008. "Should the Federal Government Reallocate Funds within Federal Transfers?," Working Papers ercwp1608, ISCTE, UNIDE, Economics Research Centre. [Downloadable!]
  19. Bank for International Settlements, 2008. "Why is there so little regional financial integration in Asia?," BIS Papers chapters, in: Bank for International Settlements (ed.), Regional financial integration in Asia: present and future, volume 42, pages 38-61 Bank for International Settlements. [Downloadable!]
  20. Tiago Neves Sequeira & Alexandra Ferreira-Lopes, 2008. "Does a Federal Country Need Federal Transferences when it has Labour Mobility?," Working Papers ercwp0708, ISCTE, UNIDE, Economics Research Centre. [Downloadable!]
  21. Konrad Szelag, 2008. "A Single Fiscal Policy in the Euro Area: Vision or Utopia?," National Bank of Poland Working Papers 46, National Bank of Poland, Economic Institute. [Downloadable!]
Statistics
Access and download statistics

Did you know? All full texts are decentralized with the publishers, none reside on this server, thus making it possible to offer this service for free to all parties.

This page was last updated on 2009-12-12.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.