Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Athanasoulis, Stefano 

Report
Growth uncertainty and risksharing

We propose a new methodology to evaluate the gains from global risksharing that is closely connected to the empirical growth literature. We obtain estimates of residual risk (growth uncertainty) at various horizons from regressions of country-specific deviations from world growth on a wide set of variables in the information set. Since this residual risk can be entirely hedged, we use it to obtain a measure of welfare gain that can be achieved by a representative country. We find that nations can reap very large benefits from engaging in such risksharing arrangements. Using post-war data, the ...
Staff Reports , Paper 30

Journal Article
Macro markets and financial security

Uncertainty about national income growth poses significant macroeconomic risk to households all over the world. To help reduce investors' exposure, researchers have proposed a controversial new set of security markets called macro markets. These international markets would trade long-term claims on the income of an entire country or region. For example, in a macro market for the United States, an investor could buy a claim on the U.S. national income and then receive dividends equal to a fraction of national income for as long as the claim is held. Although many barriers stand in the way of ...
Economic Policy Review , Volume 5 , Issue Apr , Pages 21-39

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

Journal Article 1 items

Report 1 items

FILTER BY Author

FILTER BY Jel Classification

F41 1 items

O47 1 items

FILTER BY Keywords

Economic development 1 items

Economic history 1 items

Income 1 items

Investments 1 items

Risk 1 items

Securities 1 items

show more (1)

PREVIOUS / NEXT