Consumption risk-sharing in Italy

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This paper analyses the issue of consumption risk-sharing in the 20 Italian regions during the period 1983-94. The tests proposed allow for regional specific departures from the hypothesis of complete risk-sharing and for the existence of non-separabilities among groups of commodities. Empirical evidence suggests the rejection of the hypothesis of complete consumption risk-sharing.

Document Type: Research Article


Publication date: March 1, 1998

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