Autore
Lo Prete, Anna

Titolo
Labour market institutions and household consumption insurance within OECD countries
Periodico
Università degli studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis. Working paper series
Anno: 2015 - Volume: 5 - Fascicolo: 15 - Pagina iniziale: 1 - Pagina finale: 33

This paper tests empirically whether the effect of idiosyncratic income shocks on aggregate consumption depends on institutional features of national labour markets. The results show that in a sample of 15 OECD countries institutional heterogeneity is a significant determinant of the response of household consumption to country-specific income shocks. This is consistent with the idea that institutionally-provided social insurance may help increase income stability when people differ in their ability to access financial markets and smooth consumption fluctuations.



Testo completo: http://www.est.unito.it/do/home.pl/Download?doc=/allegati/wp2015dip/wp_15_2015.pdf

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