Research Catalog

How do countries smooth regional disturbances? : risksharing in Spain, 1973-1993

Title: How do countries smooth regional disturbances? : risksharing in Spain, 1973-1993 / Enrique Alberola and Pierfederico Asdrubali.
Author: Alberola Ila, Enrique.
Publication: Madrid : Banco de España, Servicio de Estudios, [1997]

Items in the Library & Off-site

Filter by

1 Item

Item details
Status	Format	Access	Call Number	Item Location
Request for On-site Use Request Scan How do I pick up this item and when will it be ready?	Text	Request in advance	HB1.A1 D62 no.9724	Off-site

Holdings

Details

Additional Authors

Description

36 pages; 26 cm.

Summary

Use of a simple framework to study how idiosyncratic production shocks are smoothed through risksharing across Spanish provinces. By analyzing how production in the average province is successively smoothed until it is used as consumption, it is found that half of the shocks have been smoothed in the period 1973-1993 and that this proportion is even higher in the last decade (1983-1993). Capital and credit market risksharing account for most of this result. Labor mechanisms play a negligable role and the smoothing due to the government tax-transfer system is quite small. Finally, it is observed that the use of provincial prices instead of aggregate prices results in a reduction of the degree of smoothing in the economy.

Series Statement

Documento de trabajo (Banco de España. Servicio de Estudios) ; no. 9724

Uniform Title

Documento de trabajo (Banco de España. Servicio de Estudios) ; no. 9724.

Bibliography (note)

Includes bibliographical references (p. 33-36).

ISBN

8477935769

OCLC

ocm38096049

Owning Institutions

Columbia University Libraries