Channels of Risk Sharing in the Eurozone: What Can Banking and Capital Market Union Achieve?
We study channels of risk sharing in the EMU before and after 2008, when the Great Recession started. Empirically, higher cross-border equity holdings and more direct bank-to-nonbank lending are associated with more risk sharing while interbank integration is not. Equity market integration in the EM...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Palgrave Macmillan Ltd.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |