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Brown Bag Lunch
Monday
06
December
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Risk-sharing and the transmission of monetary policy in the Euro area

Théodore Renault
, -

Maison de la Paix - Genève, Room S1 Petal 2 (hybrid event)

PLEASE NOTE: Access to indoor public events is limited to attendees with a Swiss or European COVID certificate. In addition, face masks must be worn to all in-person events at the Graduate Institute.

The Brown Bag Lunch is a weekly event organized by the Department of International Economics.

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As part of the Brown Bag Lunch series, the International Economics Department at the Graduate Institute is pleased to invite you to a public talk given by Théodore Renault, who will present his joint work with Sebastian Hauptmeier and Fédéric Holm-Hadulla from the European Central Bank (ECB).

 

Risk-sharing and the transmission of monetary policy in the Euro area

by Théodore Renault, Sebastian Hauptmeier and Fédéric Holm-Hadulla

Abstract: This paper studies the relation between risk-sharing and monetary policy transmission. We first estimate the degree of risk-sharing, through private and public channels, using regional data for Euro area countries. Using local linear projections, we find that risk-sharing dampens monetary policy shocks. Our results also show complementarity between private and public risk-sharing channels. Finally, employing quantile regressions, we find that gains from having higher levels of fiscal risk-sharing are larger in poorer regions.