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How Do Countries Smooth Regional Disturbances? Risksharing in Spain: 1973-1993


  • Enrique Alberola
  • Pierfederico Asdrubali


We use a simple analytical framework to study how idiosyncratic production shocks are smoothed through risksharing across Spanish provinces. By analyzing how production in the average province is successively smoothed until it is used as consumption, we find that half of the shocks have been smoothed in the period 1973-1993 and that this proportion is even higher in the last decade (1983-1993).

Suggested Citation

  • Enrique Alberola & Pierfederico Asdrubali, 1997. "How Do Countries Smooth Regional Disturbances? Risksharing in Spain: 1973-1993," Working Papers 9724, Banco de España;Working Papers Homepage.
  • Handle: RePEc:bde:wpaper:9724

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    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies


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