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Replication data for: Financial Intermediation, International Risk Sharing, and Reserve Currencies

Version
1
Resource Type
Dataset
Creator
  • Maggiori, Matteo
Publication Date
2017-10-01
Description
  • Abstract

    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 trade deficit financed by the higher financial income that it earns as compensation for taking greater risk. During global crises, it suffers heavier losses. Its currency emerges as the reserve currency because it appreciates during crises, thus providing a good hedge. I provide evidence that financial net worth plays a crucial role in understanding this asymmetric risk sharing.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20130479 (Text)
Publications
  • Maggiori, Matteo. “Financial Intermediation, International Risk Sharing, and Reserve Currencies.” American Economic Review 107, no. 10 (October 2017): 3038–71. https://doi.org/10.1257/aer.20130479.
    • ID: 10.1257/aer.20130479 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Maggiori, Matteo (2017): Replication data for: Financial Intermediation, International Risk Sharing, and Reserve Currencies. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112918V1