Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102008
Authors: 
Baiardi, Donatella
Manera, Matteo
Menegatti, Mario
Year of Publication: 
2014
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 43.2014
Abstract: 
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 quality of environment suggest marked cross-country heterogeneity.
Subjects: 
Consumption
Environmental Risk
Financial Risk
Prudence
Relative Risk Aversion
Relative Preference for the Quality of Environment
JEL: 
Q50
D81
E21
Document Type: 
Working Paper

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