eprintid: 1641
rev_number: 6
eprint_status: archive
userid: 596
dir: disk0/00/00/16/41
datestamp: 2007-02-04
lastmod: 2019-09-29 04:27:38
status_changed: 2007-11-07 00:53:54
type: paper
metadata_visibility: show
abstract: We show that full risk sharing may not be at odd with the idea that changes in regional consumption display error-correcting dynamics, in line with the idea that information and transaction costs stemming from interregional portfolio diversification and labor movements induced by permanent income shocks may delay the adjustment process. Using Italian data over the period 1960-2001 it is found that regional per capita consumptions match the proposed error-correcting structure.
creators_name: Fanelli, Luca
creators_name: Cavaliere, Giuseppe
creators_name: Gardini, Attilio
creators_id: fanelli@stat.unibo.it
creators_id: 
creators_id: 
date: 2004-10
date_issue: 2004-10
date_revision: 2006-11
file_format: pdf
file_url: http://mpra.ub.uni-muenchen.de/1641/01/MPRA_paper_1641.pdf
full_text_status: public
identifierabstract: http://mpra.ub.uni-muenchen.de/1641/
institutions: Department of Statistics, University of Bologna
institution: Department of Statistics, University of Bologna
ispublished: unpub
keywords: Consumption risk sharing; Adjustment costs; Forward-looking behavior
language: en
pages: 10
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subjects: E21
subjects: C32
title: Consumption risk sharing and adjustment costs
citation:   Fanelli, Luca and Cavaliere, Giuseppe and Gardini, Attilio  (2004): Consumption risk sharing and adjustment costs.    
document_url: https://mpra.ub.uni-muenchen.de/1641/1/MPRA_paper_1641.pdf