essential for investment and entrepreneurs. The standard economic model of risk exchange predicts that competition in insurance …-André Chiappori and Christian Gollier Risk sharing is a cornerstone of modern economies. It is valuable to risk-averse consumers and … mutual risk-sharing arrangements--but in practice this is not the case. Many diversifiable risks are still borne by …

eurozone. Other chapters consider such topics as the effect of monetary unions on trade flows, risk-sharing mechanisms to …