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150128 ||| eng |
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|a 9781463922634
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| 100 |
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|a Rungcharoenkitkul, Phurichai
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| 245 |
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|a Risk Sharing and Financial Contagion in Asia
|b An Asset Price Perspective
|c Phurichai Rungcharoenkitkul
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2011
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| 300 |
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|a 41 pages
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| 651 |
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4 |
|a Hong Kong Special Administrative Region, People's Republic of China
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| 653 |
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|a International finance
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| 653 |
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|a Inflation
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| 653 |
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|a Stock exchanges
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| 653 |
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|a Financial contagion
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| 653 |
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|a Finance
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a General Financial Markets: Government Policy and Regulation
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| 653 |
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|a Deflation
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| 653 |
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|a Financial Aspects of Economic Integration
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Financial integration
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| 653 |
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|a Asset prices
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| 653 |
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|a Price Level
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| 653 |
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|a Financial markets
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| 653 |
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|a Stock markets
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| 653 |
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|a Financial risk management
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Financial services industry
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| 653 |
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|a Financial sector development
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| 653 |
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|a Finance: General
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781463922634.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2011/242/001.2011.issue-242-en.xml?cid=25306-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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| 520 |
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|a This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We construct a new measure of risk sharing based on a term structure model, which allows identification of realized stochastic discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more significant intra-regionally, and relatively stable over the past decade. An overall tradeoff exists between risk sharing and contagion, but the terms of tradeoffs vary across countries, depending on relative economic fluctuations and inflation differentials. Asia, therefore, can potentially enhance risk sharing without raising contagion risk
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