Idiosyncratic Risk and Consumption Insurance Across the Italian Regions
AbstractThis paper offers a brief survey of the empirical literature on the consumption insurance hypothesis and an econometric analysis of risk- sharing in an integrated economic area. The results indicate that the observed departures from full consumption smoothing across the Italian regions are positively correlated with the per-sistence of local output shocks.
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 95 (2005)
Issue (Month): 2 (March-April)
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Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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