Asymmetric Shocks and Regional Risk Sharing: Evidence from Japan
Asymmetric Shocks and Regional Risk Sharing: Evidence from Japan
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不对称冲击和区域风险分担：来自日本的证据
DOI：
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发表时间：
2005
期刊：
影响因子：
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通讯作者：
M. Nakakuki
中科院分区：
文献类型：
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作者：
Hiroshi Fujiki;M. Nakakuki
我们使用Kalemli-Ozcan、Sorensen和Yosha（2003）的方法计算日本各都道府县的保险程度。使用1975 ~ 1999年度的都道府县数据，分析了特殊冲击对地区收入的影响。研究结果表明，地区间收入保险通过资本市场吸收了约20%的地区收入异质性冲击，中央政府通过地区间税收转移制度吸收了约10%的地区收入异质性冲击，而储蓄和非储蓄的变化吸收了约60%的地区收入异质性冲击。
We use the methodology of Kalemli-Ozcan, Sorensen, and Yosha ( 2003) to calculate the degree of insurance among the Japanese prefectures. Prefectural-level data for fiscal years 1975 to 1999 are used to analyze the impact of idiosyncratic shocks to regional income. The results indicate that about 20 percent of idiosyncratic shocks to regional income are absorbed by inter-regional income insurance through the capital market, about 10 percent is absorbed by the national government through the inter-regional tax transfer system, and about 60 percent is absorbed as a result of changes in saving and dissaving.