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ABSTRACT. We rely on Schelkle (2017) to prove that the financial crisis confirmed the capacity of the monetary route of risk sharing. Monetary integration is a manner of sharing risks between geopolitical organizations. The risks to be distributed via monetary integration are commonly associated with financial imbalance. Between economies, heterogeneity of risks is the most appropriate account, taking place whenever autonomous and less than thoroughly associated risks are shared via supervised markets and/or public entities.
JEL codes: E42; E52; E63; F33; N1; O23

Keywords: European monetary union; risk sharing; institutionalization; integration

How to cite: Popescu, Gheorghe H., Florin Cristian Ciurlau, and Cristina Alpopi (2017). “The Institutionalization of Risk Sharing in the European Monetary Union,” Journal of Self-Governance and Management Economics 5(3): 89–94.

Received 19 June 2017 • Received in revised form 15 August 2017
Accepted 18 August 2017 • Available online 5 September 2017

doi:10.22381/JSME5320175

 

GHEORGHE H. POPESCU
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Center for Applied Macroeconomic Analysis
at AAER, New York;
Dimitrie Cantemir Christian University, Bucharest
FLORIN CRISTIAN CIURLAU
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Dimitrie Cantemir Christian University, Bucharest
CRISTINA ALPOPI
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Bucharest University of Economic Studies

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