Idiosyncratic Risk and Consumption Insurance Across the Italian Regions

Massimo Caruso
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Massimo Caruso: Banca d'Italia, Roma

Rivista di Politica Economica, 2005, vol. 95, issue 2, 47-80

Abstract: This 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.

JEL-codes: E21 E32 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:95:y:2005:i:2:p:47-80

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