Artis, Michael J; Hoffmann, Mathias - C.E.P.R. Discussion Papers - 2007
this increase is more pronounced among EU and EMU countries than among non-E(M)U industrialised countries. We also show … driven by better consumption smoothing through the accumulation or decumulation of foreign assets. This EMU effect on the … independent EMU-effect on the way in which risk is shared. While it is too early to evaluate these findings conclusively, we …