Economics, Econometrics and Finance
8 years ago

Italian households lack significant insurance against income shocks, study finds.

SSRN Electronic Journal
Buffer-Stock Saving and Households' Response to Income Shocks
Giulio Fella, Serafín Frache, Winfried Koeniger

Paper Summary

Italian households can protect most of their income from temporary fluctuations but only a small portion from permanent changes. They rely mainly on self-insurance rather than external support.

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