Ripartizione del rischio nelle aree territoriali italiane: un’indagine nel lungo e nel breve periodo
AbstractIn this paper we evaluate the existence of consumption risk sharing among specific geographical areas within Italy. By using an approach based upon the cointegration properties of the series and the error correction mechanisms, we analyze the emergence of risk sharing in the long- and in the short-run, encompassing the usual approach focussing on the short-run behavior only. The empirical evidence suggest that idiosyncratic risks are neutralized to a larger extent than previously found. In particular, only few areas were unable or unwilling to share their idiosyncratic risks.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 92 (2002)
Issue (Month): 3 (May-June)
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Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
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- Cavaliere, Giuseppe & Fanelli, Luca & Gardini, Attilio, 2006. "Regional consumption dynamics and risk sharing in Italy," International Review of Economics & Finance, Elsevier, vol. 15(4), pages 525-542.
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