Consumption insurance and entrepreneurial risk: Evidence from Italian micro-data

Carlo Declich and Luigi Ventura

Journal of Economics and Finance, 2003, vol. 27, issue 1, 18 pages

Abstract: Using cross-sectional data from the Bank of Italy's Survey on Household Income and Wealth, we make an attempt to assess the relevance of entrepreneurial risk, i.e., idiosyncratic risk borne by firm owners while running their operations. Our new testing procedure will show that progressively more articulated forms of entrepreneurship do not enjoy a larger degree of risk sharing and will suggest some links between a larger or smaller degree of consumption insurance and variables such as net wealth, asset holding, and net indebtedness. Copyright Academy of Economics and Finance 2003

Date: 2003
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DOI: 10.1007/BF02751587

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