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The Geography of Intercity Risk-Sharing

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  • Andrea Roberto Lamorgese

    (Ente Einaudi)

Abstract

This paper investigates the channels of risk sharing among the cities of the United States. Contributions for social security and government transfers (government channel) take the bulk of smoothing (17%), and intercity mobility ranks high: about 6% of income shocks are smoothed via the choice of working in another city than the place of residence. The empirical analysis shows another interesting result: cities facing lower income volatility also smooth a smaller share of it, probably reflecting easier access to the credit channel. Finally, the analysis in the frequency domain shows that income smoothing is achieved via different channels and to a different extent over the business cycle.

Suggested Citation

  • Andrea Roberto Lamorgese, 2000. "The Geography of Intercity Risk-Sharing," Econometric Society World Congress 2000 Contributed Papers 1692, Econometric Society.
  • Handle: RePEc:ecm:wc2000:1692
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