English, Article, Journal or magazine article edition: Gains from financial integration in the European union: evidence for new and old members Yuliya Demyanyk; Vadym Volosovych

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Bookmark: http://trove.nla.gov.au/version/24640
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Gains from Financial Integration in the European Union: Evidence for New and Old Members
Author
  • Yuliya Demyanyk
  • Vadym Volosovych
Physical Description
  • preprint
Notes
  • International finance ; European Union countries
  • RePEc:fip:fedlsp:2007-01
  • We estimate potential welfare gains from financial integration and corresponding better insurance against country-specific shocks to output (risk sharing) for the twenty-five European Union countries. Using theoretical utility-based measures we express the gains from risk sharing as the utility equivalent of a permanent increase in consumption. We report positive potential welfare gains for all the EU countries if they move toward full risk sharing. Ten country-members who joined the Union in 2004 have more volatile or counter-cyclical consumption and output and would obtain much higher potential gains than the longer-standing fifteen members.
  • EU enlargement, financial integration, welfare gains, risk sharing
  • RePEc:fal:wpaper:06009
Language
  • English
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