IMF paper identifies risk-sharing, contagion trade-off in Asia
An International Monetary Fund paper published on Thursday finds evidence of a trade-off between risk-sharing and contagion in Asia.
Phurichai Rungcharoenkitkul, the paper's author, construct a new measure of risk sharing based on a term structure mode to compare the benefits of financial integration in Asia in terms of risk sharing against the financial contagion costs. The author notes that risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more
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