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The effects of environmental risk on consumption dynamics: an empirical analysis on the Mediterranean countries

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  • Baiardi, Donatella
  • Manera, Matteo
  • Menegatti, Mario

Abstract

This paper estimates a theory-based regression model which studies the macro-economic impact of environmental and consumption risks on consumption growth in the Mediterranean region. The analysis is carried out using time series aggregate data for 13 Mediterranean countries over the period 1965–2008. The results indicate that both risks and their interaction significantly influence consumption dynamics. The estimates of the indices of relative risk aversion and relative prudence, as well as the relative preference for the quality of environment, suggest marked cross-country heterogeneity.

Suggested Citation

  • Baiardi, Donatella & Manera, Matteo & Menegatti, Mario, 2016. "The effects of environmental risk on consumption dynamics: an empirical analysis on the Mediterranean countries," Environment and Development Economics, Cambridge University Press, vol. 21(4), pages 439-463, August.
  • Handle: RePEc:cup:endeec:v:21:y:2016:i:04:p:439-463_00
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    Cited by:

    1. Desu Liu & Mario Menegatti, 2019. "Optimal saving and health prevention," Journal of Economics, Springer, vol. 128(2), pages 177-191, October.
    2. Bande, Roberto & Riveiro, Dolores & Ruiz, Freddy, 2021. "Does Uncertainty Affect Saving Decisions of Colombian Households? Evidence on Precautionary Saving," MPRA Paper 106771, University Library of Munich, Germany.

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