Baiardi, Donatella
[VerfasserIn]
;
Manera, Matteo
[Sonstige Person, Familie und Körperschaft];
Menegatti, Mario
[Sonstige Person, Familie und Körperschaft]
Erschienen in:University of Milan Bicocca Department of Economics, Management and Statistics Working Paper ; No. 271
Umfang:
1 Online-Ressource (22 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.2427281
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 21, 2014 erstellt
Beschreibung:
This paper empirically estimates a micro-founded model which studies the macroeconomic impact of environmental and financial risks on consumption choices in the Mediterranean Region. The analysis is carried out using time series aggregate data for fourteen Mediterranean countries over the period 1965-2008. Our results indicate that both risks and their interaction significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well as the relative preference for the equality of environment, suggest marked cross-country heterogeneity