This paper estimates a theory-based regression model which studies the macro-economic impact of environmental and consumption risks on consumption growth in the Mediterranean region. The analysis is carried out using time series aggregate data for 13 Mediterranean countries over the period 1965-2008. The results indicate that both risks and their interaction significantly influence consumption dynamics. The estimates of the indices of relative risk aversion and relative prudence, as well as the relative preference for the quality of environment, suggest marked cross-country heterogeneity.

Baiardi, D., Manera, M., Menegatti, M. (2016). The effects of environmental risk on consumption dynamics: An empirical analysis on the Mediterranean countries. ENVIRONMENT AND DEVELOPMENT ECONOMICS, 21(4), 439-463 [10.1017/S1355770X15000431].

The effects of environmental risk on consumption dynamics: An empirical analysis on the Mediterranean countries

BAIARDI, DONATELLA;MANERA, MATTEO;
2016

Abstract

This paper estimates a theory-based regression model which studies the macro-economic impact of environmental and consumption risks on consumption growth in the Mediterranean region. The analysis is carried out using time series aggregate data for 13 Mediterranean countries over the period 1965-2008. The results indicate that both risks and their interaction significantly influence consumption dynamics. The estimates of the indices of relative risk aversion and relative prudence, as well as the relative preference for the quality of environment, suggest marked cross-country heterogeneity.
Articolo in rivista - Articolo scientifico
Consumption growth; Environmental risk; Consumption risk; Prudence; Relative risk aversion; Environmental quality
English
2016
21
4
439
463
open
Baiardi, D., Manera, M., Menegatti, M. (2016). The effects of environmental risk on consumption dynamics: An empirical analysis on the Mediterranean countries. ENVIRONMENT AND DEVELOPMENT ECONOMICS, 21(4), 439-463 [10.1017/S1355770X15000431].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/97274
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