Micro and Macro Resilience Measures of an Economic Crisis
- Autori: Bernini C.; Cracolici M.F.; Nijkamp P.
- Anno di pubblicazione: 2019
- Tipologia: Articolo in rivista
- OA Link: http://hdl.handle.net/10447/473337
Abstract
Using Italian Households Budget Survey data over the period 1997-2013, a Cragg model in a life-cycle context is specified to compare the consumption behaviour in the pre- and post-crisis time and develop different micro and macro measures of resilience against crisis shocks. Cohort profiles for participation in and for consumption of tourism services in the pre- and post-crisis time are determined so as to explore the households’ resilience by generations. Next, the households’ resilience according to socio-demographic characteristics is addressed. As for the macro-resilience, combining individual expenditure elasticity, we examine whether and how Italian regions have responded to the recent economic crisis.