Munich Personal RePEc Archive

A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan

Yamada, Tomoaki (2014): A note on risk sharing against idiosyncratic shocks and geographic mobility in Japan.

[img]
Preview
PDF
MPRA_paper_54886.pdf

Download (65kB) | Preview

Abstract

In this study, using Japanese household panel data, we analyze how well idiosyncratic income risks are shared by regions. We find that geographic mobility influences individual consumption growth rates, suggesting that complete asset markets fail to exist. We reject the full insurance hypothesis for both urban and rural areas and find that the extent of risk sharing differs significantly by region.

Logo of the University Library LMU Munich
MPRA is a RePEc service hosted by
the University Library LMU Munich in Germany.