Risk Sharing in the Euro Area

Interdisciplinary and International Research Project Funded by the Volkswagenstiftung

Risk-sharing mechanisms are an important part of the European integration process. There have been wide-ranging debates about the desirable extent of risk sharing in the Euro Area and appropriate institutional reforms such as the call for an EU finance minister or the creation of a European Monetary Fund. Against this background, it is the objective of this research project to develop a conceptual framework that permits a comprehensive analysis of risk sharing in the Euro Area.

The innovative aspect of this project is the interdisciplinary approach which builds on both legal and economic theory. To date there has been no comparable interdisciplinary attempt to provide a comprehensive analysis of risk sharing. Moreover, the international background of participating researchers from Aristoteles University Thessaloniki, Bocconi University Mailand and University of Tübingen provides excellent prerequisites for fruitful collaborations.

Research questions which will be addressed by the participating researchers concern three important issues of risk sharing: analytical aspects, actual policies and the institutional environment, and normative questions. These research questions are arranged within three domains: financial markets, fiscal policy and migration. All of these domains are essential in determining the capacity of countries to absorb asymmetric shocks and thus achieve risk sharing.

Click here for project description in German

Senior Researchers

Jens-Hinrich Binder, Professor of Law at the University of Tübingen (Chair in Private Law, Commercial and Corporate Law)

Elena Carletti, Professor of Finance at Bocconi University Milan

Joseph-Simon Goerlach, Assistant Professor at the Department of Economics at Bocconi University Milan

Wilhelm Kohler, Professor of International Economics at the University of Tübingen

Gernot Müller, Professor of International Macroeconomics and Finance at the University of Tübingen

Martin Nettesheim, Professor of Law at the University of Tübingen (Chair for German Public Law, Public European Community Law and International Law)

Georgios Psaroudakis, Assistant Professior for Commercial Law at  Aristoteles University of Thessaloniki

Junior Researchers

Riccardo Franceschin, PhD Student in Economics and Finance at the Department of Finance, Bocconi University Milan

Pietro Galeone, PhD Student in Economics and Finance at the Department of Finance, Bocconi University Milan

Paraskevi Nikou, PhD Student at the Department of Commercial Law, Faculty of Law, Aristoteles University of Thessaloniki, LL.B (Thessaloniki), LL.M. in Commercial Law (Thessaloniki)

Philipp Schneider, Doctoral Student at the Chair for German Public Law, Public European Community Law and International Law, University of Tübingen

Susanne Wellmann, Doctoral Student at the Department of International Macroeconomics and Finance, University of Tübingen

Isabella Wolfskeil, PhD Student in Economics and Finance at the Department of Finance, Bocconi University Milan