Financial Intermediation, International Risk Sharing, and Reserve Currencies

I model the equilibrium risk sharing between countries with varying financial development The most financially developed country takes greater risks because its financial intermediaries deal with funding problems better. In good times, the more financially developed country consumes more and runs a...

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Bibliographic Details
Published in:	The American economic review Vol. 107; no. 10; pp. 3038 - 3071
Main Author:	Maggiori, Matteo
Format:	Journal Article
Language:	English
Published:	Nashville American Economic Association 01.10.2017
Subjects:	Compensation Crises Currency Developed countries Economic crisis Economic development Economic models Financial intermediaries Financial liabilities Financiers International finance International trade Investment risk Money Net worth Public debt Reserve currencies Risk Risk sharing Sharing Spreading risk Wealth
ISSN:	0002-8282, 1944-7981
Online Access:	Get full text
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