کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5084284 | 1477842 | 2006 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Regional consumption dynamics and risk sharing in Italy
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
In this paper, we propose a new method for investigating consumption insurance. Differently from the existing literature, we use error correcting VAR models in order to capture simultaneously the occurrence of risk sharing against permanent and transitory shocks. The proposed method is applied to the case of Italian regions. Empirical results obtained over the 1960-2001 period reveal that contrary to previous findings, Italian regions seem to shield against permanent shocks other than transitory ones. Although some biases are detected in the allocation process of resources, deviations from full consumption insurance are not as relevant as claimed in the previous literature on the Italian regions.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 15, Issue 4, 2006, Pages 525-542
Journal: International Review of Economics & Finance - Volume 15, Issue 4, 2006, Pages 525-542
نویسندگان
Giuseppe Cavaliere, Luca Fanelli, Attilio Gardini,